Canstar Resources Inc. Increases Financing by up to $100,000
Toronto, Ontario - April 12, 2016. Canstar Resources Inc. (“Canstar” or the “Corporation”; TSX.V: ROX) is pleased to announce increased investor demand in connection with its previously announced $82,700 non-brokered private placement (the “Offering”) on April 11, 2016. As a result of the additional demand, the Corporation has increased the Offering size by up to $100,000, which additional amount will consist of the sale of both flow-through units and hard-dollar units at $0.06 per unit, respectively.
The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and customary closing conditions for a transaction of this nature. The securities issued pursuant to the Offering will be subject to a fourth month and one day statutory hold period.
On behalf of the Board of Directors,
Danniel J. Oosterman, P.Geo
President & CEO
Danniel J. Oosterman, P. Geo.
President & CEO
Director Corporate Communications
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 News Release. This News Release includes certain “forward-looking statements”. These statements are based on information currently available to Canstar, and Canstar provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe Canstar’s future plans, objectives or goals, including words to the effect that Canstar or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Forward-looking statements are based on Canstar’s assumptions regarding, among other things, results of exploration, project development, reclamation and capital costs of Canstar’s mineral properties, capital markets activities, and Canstar’s financial condition and prospects. As these statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, and so Canstar’s actual results could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Canstar’s activities; and other matters discussed in this News Release. This list is not exhaustive of the factors that may affect any of Canstar’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Canstar’s forward-looking statements. Canstar does not undertake to update any forward-looking statement that may be made from time to time by it or on its behalf, except in accordance with applicable securities laws.