Stina Resources Ltd. has closed the private placement sale of three million common shares at a price of 47 cents per common share reported on June 19, 2009. The company also issued 250,000 common shares to Ryanwood Exploration Inc. pursuant to the Kodiak property option agreement previously announced on June 19, 2009.
Stina is also pleased to announce the closing of the non-brokered private placement of 1,923,076 flow-through units at 52 cents per flow-through unit to the MineralFields Group.
Stina announces Nov. 11, 2009, as the hold period expiry date in respect of the shares issued pursuant to the above-mentioned private placements, including the shares issued upon exercise of the shares purchase warrants comprising the flow-through units and the 250,000 common shares issued to Ryanwood Exploration.
On July 8, 2009, the TSX Venture Exchange accepted for expedited filing documentation an option agreement dated June 18, 2009, between Stina and Ryanwood Exploration whereby the issuer was granted an option to earn a 100-per-cent interest in certain mining claims (the Kodiak gold property) located in the Dawson mining district of the Yukon.