MONTREAL, QUEBEC--(Marketwire - Nov. 23, 2011) -
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
Stellar Pacific Ventures Inc. (TSX VENTURE:SPX) ("Stellar") announces the closing of the final tranche of $99,000 in the Private Placement Agreement, in the total amount of $750,000, entered into with UltraGold Holdings LLC ("UltraGold") on October 17, 2011 (please refer to press release issued on same date). UltraGold has now acquired 1,320,000 units of Stellar in addition to the 8,680,000 units acquired on October 17, 2011. Each unit consists of one common share and one common share purchase warrant entitling the holder to acquire a common share of Stellar at a price of $0.10, until November 21, 2013. The securities issued are subject to a four month and one day hold period and will only be released to UltraGold upon receipt of the TSX Venture Exchange approval.
Stellar also announces that it has granted 1,750,000 stock options to a director and service providers. Each stock option entitles its holder to subscribe for one common share of Stellar at a price of $0.10 per share. Their expiry date is November 22, 2016.
About Stellar Pacific Ventures
Stellar Pacific Ventures (TSX VENTURE:SPX) is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in Canada and in Africa. Stellar is dedicated to creating growth by discovering and mining the earth's resources in an efficient and environmentally responsible manner.Neither 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.
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