Vancouver, BC / ACCESSWIRE / April 23, 2014 / St. Elias Mines Ltd. (SLI-TSX-V) announces a non-brokered private placement of up to 5,000,000 units at a price of $0.05 per unit, for total proceeds of up to $250,000. Each unit will consist of one common share of the Company and one non-transferable share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the Company at a price of $0.10 for a period of 24 months following closing. A finder's fee of 10% of the gross proceeds will be payable in cash, units or a combination thereof. Interested purchasers can contact Lori McClenahan or Cathy Forhane for subscription documents.
The proceeds of the private placement will be used to pay TSX sustaining fees; annual government fees for the Company's Peruvian and B.C. properties; audit fees; and for working capital.
For additional information on St. Elias and its projects, please visit us at www.steliasmines.com or call
1-888-895-5522 (toll free US and Canada) or contact:
ST. ELIAS MINES LTD.
(signed "Lori McClenahan")
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: St. Elias Mines Ltd.