Stinger Resources arranges $160,000 private placement

Executive Summary

• Stinger Resources Inc. has announced a proposed non-brokered private placement of up to $160,000.
• The company intends to sell up to 3.2 million units at a price of $0.05 per unit to eligible purchasers.
• Proceeds will be used for general working capital, with anticipated insider participation subject to specific regulatory exemptions.

Key Details

• Transaction Structure: Non-brokered private placement of up to 3.2 million units.
• Price: $0.05 per unit.
• Gross Proceeds: Up to $160,000.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of $0.06.
• Warrant Expiry: Warrants expire 24 months after the closing date of the offering.
• Use of Proceeds: General working capital.
• Hold Period: Securities are subject to a hold period of four months and one day from the date of issuance, in accordance with Canadian Securities Exchange policies.
• Insider Participation: Insiders are anticipated to participate; this is considered a related party transaction exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101.
• Regulatory Basis: Offered in reliance on exemptions from prospectus and registration requirements.