Archive for February, 2012

Winnipeg, MB – February 6^th, 2012

 

Mainstream Minerals Corporation (TSX.V: MJO) (the “Issuer”) is pleased to announce a non-brokered private placement of a maximum of 12,000,000 Units at a purchase price of $0.05 for gross subscription proceeds of $600,000.00. The offering will be made to subscribers resident in the Provinces of Ontario, Manitoba, Saskatchewan, Alberta and British Columbia, and such other jurisdictions as the Issuer may determine.  It is anticipated that the closing of offering will occur on or around March 9^th, 2012.

Each Unit shall be comprised of one non-flow-through Common Share and one-half (1/2) of one non-flow-through Common Share purchase warrant (a “Warrant”) of the Issuer.  Each whole Warrant shall entitle the holder to purchase one Common Share for an exercise price of $0.10 for a period of 12 months following the date of issuance.  The Common Shares and Warrants issued in connection with this offering will be subject to a hold period of four months plus one day.

The Issuer may, at its discretion, offer a 6 % cash finder’s fee to registered dealers for services rendered in introducing certain subscribers to the offering (each, a “Finder”). In addition to the finder’s fee, brokers warrants equivalent to 6 % of the number of Units subscribed for in this non-brokered placement may be paid to registered dealers for services rendered in introducing certain subscribers to the offering. Each broker warrant can be exercised to purchase one non-flow-through common share upon payment $0.10 for a period of 12 months following the date of issuance.

The closing of this offering is subject to the approval of the TSX Venture Exchange Inc.

 

About Mainstream Minerals

 

Mainstream Minerals Corporation is a mineral exploration and development company focused on precious metal mining properties with economic potential, with the aim of possibly bringing such properties to commercial production. With a portfolio of six projects located in the Birch-Uchi Greenstone Belt, Red Lake Mining District, the company is well positioned to take advantage of the resurgence of exploration and development activities in this prospective belt located 80 kilometres due east of the main Red Lake Greenstone Belt.

These six projects cover an area of approximately 28,600 acres and host several known gold occurrences and past producing mines. Other projects include the Rowan Lake Project on the Cameron Lake-Pipestone Fault in the Kenora Mining District, the West Keefer Claims located in the West Timmins area in north-central Ontario and the Casa Berardi Claims in northern Québec.

 

MJO Shares Outstanding: 54,422,130

 

ON BEHALF OF THE BOARD

Signed “Michael Romanik”
Michael Romanik, President & CEO
(204) 222-0137
info@mainstreamminerals.com
www.mainstreamminerals.com

This news release includes certain forward-looking statements concerning the future performance of Mainstream Mineral Corporation’s business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements are frequently identified by such words as “may”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. These forward-looking statements represent management’s best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing and as described in more detail in the Company’s recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and readers are cautioned against placing undue reliance thereon.