2012-11-13 15:38:59 -
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/13/12 -- Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) ("Saturn" or the "Company") is pleased to announce that it has entered into an agreement with Hampton Securities Limited (the "Agent") to act as agent on a best efforts basis in connection with a brokered private placement of up to $3,750,000 in gross proceeds (the "Offering"). The Offering will consist of up to 25,000,000 non flow-through and flow-through shares and will be priced within the context of the market.
Proceeds from the Offering shall be used to advance Saturn's properties in Saskatchewan and Manitoba and for working capital.
The Offering is scheduled to close on or before January 31, 2013, and is subject to certain conditions, including approval of the TSX Venture Exchange.
About Hampton Securities Limited
Hampton Securities Limited is a boutique investment firm that focuses on international institutional trading, private wealth management and investment banking in the global energy space.
About Saturn Minerals Inc.
Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) is a junior Canadian energy company advancing a portfolio of oil and coal properties in Saskatchewan and Manitoba. The Company owns 370,000 acres of exclusive oil & gas rights in Saskatchewan and is advancing a number of oil exploration projects. Saturn has also made three shallow bituminous coal discoveries since 2009 with coal seams ranging in continuous vertical thickness from 9 to 89 meters. Saturn has a strategic ownership in Inowending Exploration & Development Corp., a First Nations owned exploration and development company co-founded by Saturn with a consortium of Saskatchewan First Nations active in Canada's prairie provinces.
On Behalf of the Board of Directors
SATURN MINERALS INC.
Stan Szary, Chief Executive Officer
NEITHER THE 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.
Saturn Minerals Inc.
Chief Executive Officer
+1 (604) 685-6989