Stallion Discoveries Closes $4 Million Non-Brokered Private Placement Financing
Stallion Discoveries Corp.
Feb 16, 2023
Feb 16, 2023
VANCOUVER, British Columbia, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Stallion Discoveries Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: STLNF) is pleased to announce that, further to its news release dated February 1, 2023, it has closed a non-brokered private placement offering for total gross proceeds of $4,000,000 (the “Private Placement”).
The Company has allotted and issued 16,000,000 units (the “Units”) at a price of $0.25 per Unit. Each unit consists of one common share of the Company and one-half of one transferable share purchase warrant, each whole warrant entitling the holder to acquire one additional common share at an exercise price of $0.50 for a period of 12 months from the closing date.
In relation to the Private Placement, the Company has paid finder’s fees of $300,000 to eligible arm’s-length parties. The Company will use the proceeds from the Private Placement towards exploration efforts across the Company’s projects as well as general working capital purposes. All securities issued pursuant to the Private Placement will be subject to a hold period expiring June 16, 2023. The Private Placement remains subject to final approval of the TSX Venture Exchange.
Further, the Company announces that it has engaged the following marketing contractors:
a) Common Cents Media, Social Purpose Corporation of Gig Harbor, WA, to provide marketing services through social media channels and online media distribution for an initial term of three months to commence on February 14, 2023, and on a month to month basis thereafter, pursuant to an agreement dated February 14, 2023, in consideration of USD $20,000 for the initial three month term and for mutually agreed upon deliverables on a monthly basis thereafter, as well as a grant of 50,000 stock options within 14 days of signing the agreement;
b) Emerging Growth, LLC d/b/a TDM Financial of Whitefish, MT, to provide marketing services by creating content on behalf of the Company with the aim of generating exposure to the TDM Financial investment audience on SECFilings.com, CFNMedia.com, CEORoadshow, syndicated channels and for the Company’s own internal projects for a term of five months to commence on February 14, 2023, pursuant to an agreement dated February 14, 2023, in consideration of a total of USD $40,000;
c) Cornerstone Capital Solutions LLC of Staten Island, NY, to provide a YouTube video profile marketing campaign for a six month term to commence on March 1, 2023, in consideration of a payment of USD $8,000;
d) Passive Income Investor Inc. of Sunderland, ON, to provide marketing services through social media channels for a three month term to commence on February 15, 2023, in consideration of a payment of CAD $10,000; and
e) Thesis Marketing Inc. of Langley, BC, to provide marketing services through social media channels and digital ads for a sixty day term to commence on February 15, 2023, in consideration of a payment of CAD $42,000 plus GST.
All marketing services providers are considered related parties to the Company. None of the marketing services providers currently own any interest, directly or indirectly, in the Company or its securities. The marketing agreements remain subject to approval of the TSX Venture Exchange.
About Stallion Discoveries
Stallion Discoveries is an exploration company bred to pursue the exploration of large, underexplored land packages located in the best jurisdictions next to world class projects with the singular ambition of making significant discoveries. Stallion is using modern exploration techniques to explore historical and new mineral targets on its expansive land packages in Saskatchewan, Idaho and Nevada. Our leadership and advisory team are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties with highly prospective targets.
For more information visit Stalliondiscoveries.com
For further information contact:
Chief Executive Officer
Chief Executive Officer
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.
This news release may contain statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.