LA PRAIRIE, QUEBEC --(Marketwired - Dec. 31, 2013 ) - Vanstar Mining Resources inc. (the "Company") (TSX VENTURE:VSR) announces that it has completed a $102,600 non-brokered financing. The Company sold 85.5 Flow-Through units (the "FT Units") at a purchase price of $1,200 per FT Unit, for a total amount of $102,600 . Each FT Unit consists of 8,000 flow-through common shares and 2,000 common shares at a price of $0.12 per share and 5,000 common share purchase warrants. Each warrant allows the holder to purchase one additional common share in the capital of the Company for a period of 12 months from the date of issuance, at a purchase price of $0.15 per share. Proceeds of the FT Units will be used for the continuation of exploration of the Nelligan property in Quebec . The expenses will constitute flow-through mining expenditure as described in subsection 127(9) of the Income Tax Act ( Canada ); and will qualify for inclusion in both: the exploration base relating to certain Quebec exploration expenses, and the exploration base relating to certain Quebec surface mining exploration expenses as these terms are defined in the Taxation Act ( Quebec ). A finder's fee of $480 was paid to an arm's length party in relation to this financing and 3 insiders participated for a total amount of $25,200 . The securities issued as part of this financing will be subject to a minimum hold period of 4 months and a day and are subject to the approval of the TSX Venture exchange. The board of directors also granted today 50,000 stock options to an officer of the Company at a price of $0.13 . These stock options are valid for a period of 5 years. Neither 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 release. FOR FURTHER INFORMATION PLEASE CONTACT: Source: Guy Morissette CEO 819-763-5096 www.vanstarmining.com For info: Momentum Public Relations Inc. Maxence Gagne-Godbout 450-332-6939 firstname.lastname@example.org Source: Vanstar Mining Resources inc.
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