Starfield Resources Inc.

Starfield Announces CDN$12 Million Private Placement Offering

    Vancouver, Canada (ots/PRNewswire) -

    Not for Distribution to U.S. Newswire Services or for Dissemination in  the United States

VANCOUVER, Canada, March 7 /PRNewswire/ --

VANCOUVER, Canada, March 7 /PRNewswire/ --

    Starfield Resources Inc. ("Starfield" or the "Company") (TSX-V: SRU and  OTCBB: SRFDF) is pleased to announce a private placement offering  consisting of up to 25,000,000 units of the Company (each a "Unit") at a  price of CDN$0.24 per Unit and of up to 21,428,571 flow-through common  shares of the Company ("Flow-Through Shares") at a price of CDN$0.28 per  Flow-Through Share (the "Offering"). Each Unit will consist of one common  share of the Company (a "Common Share") and one-half of one transferable  Common Share purchase warrant (a "Warrant"). Each whole Warrant will  entitle the holder to acquire one Common Share at an exercise price of CDN$ 0.30 per Common Share. The Warrants will be exercisable for 24 months  following the closing of the Offering (the "Closing Date"). In the event  that the Common Shares trade at a closing price on the TSX Venture Exchange ("TSX-V") of greater than CDN$0.375 per share for a period of 20 consecutive trading days at any time after four months and one day after  the Closing Date, the Company may accelerate the expiry date of the  Warrants by giving notice to the holders thereof and, in such case, the  Warrants will expire on the 30th day after the date on which such notice is  given by the Company.

VANCOUVER, Canada, March 7 /PRNewswire/ --

    Mr. André J. Douchane, President and CEO of the Company, stated "I am  pleased that Starfield has commenced with this new private placement  offering, and upon completion of the offering, I am confident that we will  be able to advance our Ferguson Lake Project to the next stage."

VANCOUVER, Canada, March 7 /PRNewswire/ --

    Starfield will use the proceeds from the Offering for general exploration expenditures and general working capital purposes.

VANCOUVER, Canada, March 7 /PRNewswire/ --

    Westwind Partners Inc., Westwind Partners (UK) Limited and Westwind  Partners (USA) Inc. (together "Westwind") will act as the lead agents for  the Offering and will offer the Units and the Flow-Through Shares on a best  efforts basis. Westwind may appoint other duly qualified agents ( collectively, with Westwind, the "Agents") to assist with the Offering. The  Company will pay the Agents a commission fee equal to 7% of the gross  proceeds of the Offering. In addition, on the Closing Date, the Company  will issue non-transferable broker warrants to the Agents entitling the  Agents to collectively purchase Common Shares in an amount up to 7% of the aggregate number of Units and Flow-Through Shares issued pursuant to the  Offering. Each broker warrant will entitle the holder to buy one Common  Share at the Unit issue price. The broker warrants will be exercisable, in  whole or in part, for a period of 24 months following the Closing Date.

VANCOUVER, Canada, March 7 /PRNewswire/ --

    The Company has provided Westwind with an option (the "Agents' Option")  to purchase or offer for sale up to an additional 12,500,000 Units and/or  10,714,285 Flow-Through Shares, collectively not to exceed an aggregate  principal amount of CDN$3,000,000, on the same terms and conditions as the  Offering. The Agents' Option is exercisable no later than 7:30 p.m. ( Toronto time) on the second business day prior to the Closing Date. The  Closing Date is expected to occur on or about March 22, 2007 and is subject  to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX-V.

VANCOUVER, Canada, March 7 /PRNewswire/ --

    The Offering will be made available in all provinces and territories of  Canada. Units may also be sold to U.S. purchasers on a private placement  basis pursuant to exemptions from the registration requirements of the  United States Securities Act of 1933, as amended (the "U.S. Securities Act ") provided by Rule 144A or Regulation D under the U.S. Securities Act. In  the United Kingdom, the Units will be offered to persons who are both (i) "Qualified investors" within the meaning of Section 86(7) of the United  Kingdom Financial Services and Markets Act 2000 ("FSMA"); and acting as  principals or in circumstances where Section 86(2) FSMA applies and (ii)  are within the categories of persons referred to in Article 19 (Investment  Professionals) or Article 49 (High net worth companies, etc.) of the  Financial Services and Markets Act 2000 (Financial Promotions) Order 2005.

VANCOUVER, Canada, March 7 /PRNewswire/ --

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Units, Common Shares, Flow- Through Shares or Warrants (the "Securities") in the United States. The  Securities have not been and will not be registered under the U.S.  Securities Act or any state securities laws, and may not be offered or sold  in the United States without registration under the U.S. Securities Act and  all applicable state securities laws, or an exemption therefrom. Any public  offering of the Securities to be made in the United States will be made by  means of a prospectus that may be obtained from Starfield or a selling security holder and that will contain detailed information about the Company and management, as well as financial statements. No public offering  of the Securities will be made in the United States in connection with the  above-mentioned transaction.

VANCOUVER, Canada, March 7 /PRNewswire/ --

    About Starfield: Starfield Resources Inc. is an advanced exploration  and development company focused on its Ferguson Lake Copper-Nickel-Cobalt- Palladium-Platinum property located in Nunavut, Canada. The Ferguson Lake  property covers more than 1.3 million acres and is 100% owned by the  Company. Since 1999, Starfield has completed 132,000 metres of diamond  drilling in 359 holes. A National Instrument 43-101 technical report dated  May 15, 2006 prepared by N.C. Carter PhD., P.Eng. was filed on SEDAR and on Starfield's website on May 25, 2006. A developing feature of this mineral  district is the significant discovery of high-grade platinum and palladium  mineralization found in the footwall to the massive sulphide deposit.  Starfield's Ferguson Lake Project is unfolding as Nunavut's largest ongoing  base and precious metal project.

VANCOUVER, Canada, March 7 /PRNewswire/ --

    On behalf of the Company,

VANCOUVER, Canada, March 7 /PRNewswire/ --

    André Douchane,

    President and CEO

VANCOUVER, Canada, March 7 /PRNewswire/ --

    Caution concerning forward-looking statements: This communication to  shareholders and the public contains certain forward-looking statements.  Forward-looking statements are generally identified by the words "expect,"  "anticipates," "believes," "intends," "estimates," "plans" and similar  expressions. Actual results may differ materially from those indicated by  such statements. Although Company management believes that the expectations  reflected in such forward-looking statements are reasonable, investors are  cautioned that all statements, other than statements of historical fact, included herein, including, without limitation statements regarding future  production, are forward looking statements that involve various risks and  uncertainties. These risks and uncertainties include those discussed or  identified in the Company's annual report for the year ended February 28,  2006, as filed with the U.S. Securities and Exchange Commission on Form 20- F. Among others, these include risks related to the uncertainty associated  with calculating reserves and mineralization, operating hazards in the  mining industry and the Company's inability to meet its future capital requirements. There can be no assurance that such statements will prove to  be accurate and actual results and future events could differ materially  from those anticipated in such statements. Other than as required by  applicable law, the Company does not undertake any obligation to update or  revise any forward-looking information or statements. The TSX Venture  Exchange has not reviewed and does not accept responsibility for the  adequacy or accuracy of this press release. This press release does not  constitute an offer to sell or a solicitation of an offer to buy any of the  securities in the United States. The securities have not been and will not  be registered under the U.S. Securities Act of 1933, as amended (the "U.S.  Securities Act") or any state securities laws and may not be offered or  sold within the United States or to U.S. Persons (as such terms are defined  in Regulation S under the U.S. Securities Act) unless registered under the  U.S. Securities Act and applicable securities laws or an exemption from such  registration is available.

    www.starfieldres.com

VANCOUVER, Canada, March 7 /PRNewswire/ --

ots Originaltext: Starfield Resources Inc.
Im Internet recherchierbar: http://www.presseportal.ch

Contact:
For further information: Michael Joyner, The Equicom Group,
+1-(416)-815-0700 ext.275, mjoyner@equicomgroup.com; André Douchane,
Starfield Resources Inc., +1-(416)-671-8089, www.starfieldres.com



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