An exploration finance agreement has been signed between Stabell Resources and Sofimines 1987 and Co., Ltd. Partnership whereby Stabell will issue 1.5 million shares at 50 cents per share to Sofimines in return for $750,000.
The company has also agreed to issue 75,000 shares to Gestion Soficorp Inc. and has granted Soficorp the right to purchase, until Dec 31, 1988, an additional 300,000 non-flow-through shares at 50 cents per share.
All of the above agreements are subject to regulatory approval. Stabell says it will use the proceeds to explore the Dubuisson gold property at Val d’Or, Que.
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