TORONTO, ON / ACCESSWIRE / August 27,
2014 / Millstream Mines Ltd. (MLM TSX-V & NJD
Frankfurt) announces a non brokered private placement
for maximum proceeds of $60,000 (the "Offering"). The terms of the
Offering are as follows: a maximum of 6,000,000 common shares at a price of
$0.01 per share. The Offering will be conducted by the Company utilizing the
"existing shareholder exemption" as described in Multilateral CSA
Notice 45-313 - Prospectus Exemption for Distributions to
Existing Security Holders (published March 13, 2014) (the
"Existing Shareholder Exemption"), under the "accredited
investor" exemption of National Instrument 45-106
- Prospectus and Registration
Exemptions ("NI 45-106") as well
as under other applicable exemptions available to the Company in NI 45-106.
will make the offering available to all shareholders of the Company as at the
date hereof (the "Record Date") who are eligible to participate under
the Existing Shareholder Exemption and who will have notified the
Company by no later than 4:30 PM (Eastern time) on Sep. 12, 2014 of their
intention to participate in the Offering. Orders will be processed by the
Company on a first come, first served basis such that it is possible that a
subscription received from a shareholder may not be accepted by the Company if
the Offering is over subscribed. Any person who becomes a shareholder of
Millstream after the Record Date shall not be entitled to participate in the
Offering under the Existing Shareholder Exemption.
Offering is expected to close on or before Sept.19, 2014 and is subject to
regulatory approval. No commission or finders' fee will be paid by the Company
in connection with the Offering and the proceeds from this financing will be
used to eliminate the Company's working capital deficit (approximately $17,000),
and for general corporate purposes (of which approximately $6,000 would be
budgeted to general and administrative expenses, $31,000 for professional fees
and $6,000 for miscellaneous expenses).
Millstream Mines Ltd.:
Mines Ltd. is a Canadian-based mineral exploration company whose
principle objective is to enhance and develop known mineral properties to
production potential. The Company has projects in the Province of Ontario, Canada
and in the State of Montana, USA. The Potter Mine Property found in Ontario is
outlined above. The Tamarack Gold Property, a former high grade gold producer
in the Tobacco Root Mountains of south western Montana, is in an advanced stage
of underground exploration and development operating under the Small Mines
Exclusion Act of the State of Montana. Exploration properties in the company's
portfolio also include the Uncle Sam gold project property in Montana and the
Airport property (Sudbury basin precious metals project) in Ontario.
information about these properties and the company is available on our website:
The TSX Venture Exchange
has not reviewed and does not
accept responsibility for the adequacy or
accuracy of this release. Millstream seeks safe
harbour with regard to forward looking statements.
further information contact:
Harrison, EM, Chairman and CEO
Martinello, B.A., Executive V.P.
Chase, CFA, President and CFO
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