STARCORE INTERNATIONAL MINES LTD 6-K, filed Jul 5, 2022
STARCORE INTERNATIONAL MINES LTD. (SHVLF)
About this 6-K
STARCORE INTERNATIONAL MINES LTD filed this 6-K on July 5, 2022.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2022
Commission File Number 000-50922
STARCORE INTERNATIONAL MINES LTD.
(Translation of registrant’s name into English)
Suite 750 – 580 Hornby Street, Vancouver, B.C., Canada V6C 3B6
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
EXHIBITS
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Exhibit No. |
Description |
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99.1 |
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99.2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
STARCORE INTERNATIONAL MINES LTD.
Date: Jul 5, 2022
By:
/s/ Gary Arca
Gary Arca
Chief Financial Officer
July 4, 2022TSX: SAM
Starcore Arranges Private Placement
Vancouver, B.C. ... Starcore International Mines Ltd. (the “Company”) announces it has approved a non-brokered private placement for gross proceeds of up to $1,200,000 (the “Financing”). The private placement will consist of up to 6,000,000 units (the “Units”) at a price of $0.20 per Unit. Each Unit is comprised of one common share of Starcore and one-half of one transferable common share purchase warrant (the “Warrants”), each whole Warrant exercisable for a period of four years from the date of issue to purchase one common share of Starcore at a price of $0.30 per share, provided that, if after the expiry of all resale restrictions, the closing price of the Company’s shares is equal to or greater than $0.40 per share for 20 consecutive trading days, the Company may, by notice to the Warrant holders (which notice may be by way of general news release), reduce the remaining exercise period of the Warrants to not less than 30 days following the date of such notice.
In accordance with the policies of the Toronto Stock Exchange (the “TSX”), the Company may pay finders’ fees to certain finders for such portion of the Financing as may be attributable to their efforts.
Certain insiders of the Company (namely the CEO and CFO) intend to participate in this Financing.
Proceeds of the Financing will be applied as follows:
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•Geophysical surveys at El Creston and the Opodepe Project, located in Sonora, Mexico |
$715,000 |
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•Geophysical surveys at the San Martin Mine, located in Queretaro, Mexico |
425,000 |
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•Financing costs, filing fees and commissions |
60,000 |
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Total |
$1,200,000.00 |
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The private placement is subject to TSX acceptance and any required regulatory approvals. All of the securities issued pursuant to this Financing will have a hold period expiring four months plus one day after the closing date.
Suite 750 – 580 Hornby Street, Box 113, Vancouver, British Columbia, Canada V6C 3B6
Telephone: (604) 602-4935 Fax: (604) 602-4936 e-mail. info@starcore.com website: www.starcore.com
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About Starcore
Starcore International Mines is engaged in precious metals production with focus and experience in Mexico. This base of producing assets is complemented by exploration and development projects throughout North America. The Company is a leader in Corporate Social Responsibility and advocates value driven decisions that will increase long term shareholder value. You can find more information on the investor friendly website here: www.starcore.com.
ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.
Signed “Robert Eadie”
Robert Eadie, Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE
Telephone: (604) 602-4935 x 205
Toll Free: 1-866-602-4935
Email: readie@starcore.com
The Toronto Stock Exchange has not reviewed nor does it accept responsibility
for the adequacy or accuracy of this press release.
July 5, 2022TSX: SAM
Starcore Ready to Close Private Placement
Vancouver, B.C. Further to its news release of July 4th, 2022, Starcore International Mines Ltd. (TSX:SAM) (the “Company” or “Starcore”) announces it has confirmed a total of $1,200,000 in subscription funds and will be closing its non-brokered private placement upon Toronto Stock Exchange acceptance. On closing, the Company will issue a total of 6,000,000 units (the “Units”) at a price of $0.20 per Unit. Each Unit is comprised of one common share of Starcore and one-half of one transferable common share purchase warrant (the “Warrants”), each whole Warrant exercisable for a period of four years from the date of issue to purchase one common share of Starcore at a price of $0.30 per share, provided that, if after the expiry of all resale restrictions, the closing price of the Company’s shares is equal to or greater than $0.40 per share for 20 consecutive trading days, the Company may, by notice to the Warrant holders (which notice may be by way of general news release), reduce the remaining exercise period of the Warrants to not less than 30 days following the date of such notice.
The proceeds of the private placement will be used for geophysical surveys to be conducted at the Company’s projects in Sonora and Queretaro, Mexico. Certain insiders, namely the Company’s CEO and CFO, participated in the private placement. Information required by Multilateral Instrument 61-101 “Protection of Minority Security Holders in Special Transactions” will be included in a material change report to be filed by the Company under its profile on SEDAR at www.sedar.com.
The Company will pay $48,000 to Rodea GmbH as a finder’s fee for the portion of the financing attributable to the finder’s efforts.
All of the securities issued pursuant to this private placement will have a hold period expiring four months plus one day after the closing date.
About Starcore
Starcore International Mines is engaged in precious metals production with focus and experience in Mexico. This base of producing assets is complemented by exploration and development projects throughout North America. The Company is a leader in Corporate Social Responsibility and advocates value driven decisions that will increase long term shareholder value. You can find more information on the investor friendly website here: www.starcore.com.
ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.
Signed “Robert Eadie”
Robert Eadie, Chief Executive Officer
Suite 750 – 580 Hornby Street, Box 113, Vancouver, British Columbia, Canada V6C 3B6
Telephone: (604) 602-4935 Fax: (604) 602-4936 e-mail. info@starcore.com website: www.starcore.com
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FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE
Telephone: (604) 602-4935 x 205
Toll Free: 1-866-602-4935
Email: readie@starcore.com
The Toronto Stock Exchange has not reviewed nor does it accept responsibility
for the adequacy or accuracy of this press release.