Non-brokered deal proceeds used for drilling at the Colpayoc property
By Devika Patel
Knoxville, Tenn., Nov. 18 - Estrella Gold Corp. said it settled a non-brokered private placement of units.
The company sold 2 million units at C$0.50 apiece for C$1 million. Each unit consists of one common share and one warrant. Each warrant will be exercisable at C$0.80 until Nov. 17, 2012. The strike price reflects a 60% premium to the Nov. 17 closing share price of C$0.50.
Proceeds will be used for a drill program at the Colpayoc property, property payments, working capital and general corporate purposes.
The precious metals explorer is based in Toronto.
| Issuer: | Estrella Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 2 million
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Nov. 17, 2012
|
| Warrant strike price: | C$0.80
|
| Agent: | Non-brokered
|
| Settlement date: | Nov. 18
|
| Stock symbol: | TSX Venture: EST
|
| Stock price: | C$0.50 at close Nov. 17
|
| Market capitalization: | C$6.54 million
|
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