Stardust Solar Energy, (“Stardust Solar” or the “Company”), a leading provider of residential solar energy solutions, announces that it will proceed with a non-brokered private placement of up to 4,000,000 units of the Company (the “Units”) at a price of $0.125 per Unit for aggregate gross proceeds of up to $500,000.
Each Unit to be issued under the Offering will be comprised of one common share in the capital of the Company (a “Share”) and one-half of one Share purchase warrant (a whole warrant, a “Warrant”). Each whole Warrant will entitle the holder thereof to acquire one additional share (a “Warrant Share”) at a price of $0.25 per Warrant Share for a period of 18 months from the closing date of the Offering.
The Company intends to use the net proceeds of the Offering for operational expenses and other general corporate purposes, including increasing investor awareness, investor relations and marketing expenses.
The Company may pay finder’s fees of up to 7.0% of the gross proceeds of the Offering, payable in cash. In addition, finders may receive share purchase warrants entitling them to purchase such number of Shares of the Company, which is equal to 7.0% of the total number of Units purchased by subscribers introduced to the Company by such finders, each exercisable for a period of 18 months from the closing date of the Offering at a price of $0.25 per Share, all in accordance with the policies of the TSX Venture Exchange.
All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws. The Offering is not subject to a minimum aggregate amount of subscriptions. Closing of the Offering and the issuance of the Units are subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.
