LA PRAIRIE, QUEBEC--(Marketwired - May 3, 2013) - Vanstar Mining Resources inc. ("Vanstar") (TSX VENTURE:VSR) announces that it is increasing the previously announced $100,000 financing, to a maximum of $150,000.
The financing consists of a maximum of 150 units at a purchase price of 1,000 $ per unit. Each unit consists of 20,000 common shares at a price of $0.05 per share and 20,000 common share purchase warrants. Each whole warrant will entitle the holder to purchase one additional common share in the capital of Vanstar for a period of 2 years from the date of issuance, at a purchase price of $0.10 per share. These funds will be allocated for general working capital purposes. Insiders will participate to this offering.
The securities issued as part of this financing will be subject to a minimum hold period of four-month-and-one-day and subject to the approval of the TSX Venture exchange.