Offering sells units of common shares, three-year warrants at C$0.15
By Devika Patel
Knoxville, Tenn., Oct. 3 - Estrella Gold Corp. said its private placement of units has been oversubscribed and increased to C$1.13 million from C$750,000. The deal priced on Sept. 19.
The company will now sell 7,555,000 units of one common share and one warrant at C$0.15 per unit. The warrants are each exercisable at C$0.25 for three years. The strike price is a 56.25% premium to the Sept. 18 closing share price of C$0.16.
Proceeds will be used for advancing three of Estrella's gold targeted Peruvian properties, continuing joint venture negotiations on current projects, exploring four licenses under application in the Dominican Republic, working capital and general corporate purposes.
The gold explorer is based in Toronto.
| Issuer: | Estrella Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,133,250
|
| Units: | 7,555,000
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.25
|
| Pricing date: | Sept. 19
|
| Upsized: | Oct. 3
|
| Stock symbol: | TSX Venture: EST
|
| Stock price: | C$0.16 at close Sept. 18
|
| Market capitalization: | C$3.37 million
|
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