MONTREAL, QUEBEC--(Marketwire - Dec. 14, 2011) - Stellar Pacific Ventures Inc. (the "Company" or "Stellar"), (TSX VENTURE:SPX) announces that is has arranged a non-brokered private placement financing to raise proceeds of up to $750,000.
The company will issue a maximum of 9,375,000 million units at a purchase price of 0.08 cents each. Each unit will consist of one common share and one half of a common share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share in the capital of the company, for a period of 18 months, at a purchase price of 15 cents each.
The securities issued pursuant to the private placement will be subject to a four-month and one day hold period and the private placement is subject to approval by the TSX Venture Exchange.
The net proceeds from the offering will be used to advance the company's Balandougou project in Guinea, West Africa.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.