Agent Industrial Alliance sells two types of unit to fund exploration
By Devika Patel
Knoxville, Tenn., Dec. 19 - Goldstar Minerals Inc. it raised C$400,000 in the second and final tranche of a C$1.01 million private placement of units. The deal priced for C$1.5 million Sept. 5 and raised C$611,000 on Oct. 30.
The company sold 8.49 million flow-through units of one flow-through common share and one half-share warrant at C$0.10 per unit and 2,025,000 units of one common share and one warrant at C$0.08 per unit.
It sold 1,525,000 units and 4.89 million flow-through units in the first tranche and 500,000 units and 3.6 million flow-through units in the second tranche.
The whole warrants are exercisable at C$0.12 each until Oct. 30, 2015. The strike price is a 33.33% premium to the Sept. 4 closing share price of C$0.09.
Industrial Alliance Securities Inc. was the agent.
Proceeds will be used for exploration, development of key projects and general corporate purposes.
The Toronto company explores for tungsten and other resources.
| Issuer: | Goldstar Minerals Inc.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one warrant
|
| Amount: | C$1,011,000
|
| Warrant expiration: | Oct. 30, 2015
|
| Warrant strike price: | C$0.12
|
| Agent: | Industrial Alliance Securities Inc.
|
| Pricing date: | Sept. 5
|
| Settlement date: | Oct. 30 (for C$611,000), Dec. 19 (for C$400,000)
|
| Stock symbol: | TSX Venture: GDM
|
| Stock price: | C$0.09 at close Sept. 4
|
| Market capitalization: | C$1.21 million
|
|
|
| Flow-through units
|
| Amount: | C$849,000
|
| Units: | 8.49 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
|
|
| Units
|
| Amount: | C$162,000
|
| Units: | 2,025,000
|
| Price: | C$0.08
|
| Warrants: | One warrant per unit
|
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