Non-brokered offering funds Regional Andean Gold Exploration Program
By Devika Patel
Knoxville, Tenn., Dec. 3 - Estrella Gold Corp. said it completed a non-brokered private placement of units. It raised C$1 million.
The company sold 2 million units at C$0.50 apiece. Each unit consists of one common share and one warrant. Each warrant will be exercisable at C$0.80 until Dec. 3, 2012. The strike price represents a 9.59% premium to the Dec. 2 closing share price of C$0.73.
Proceeds will be used for the Regional Andean Gold Exploration Program, working capital and general corporate purposes.
The gold resource 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: | Dec. 3, 2012
|
| Warrant strike price: | C$0.80
|
| Agent: | Non-brokered
|
| Settlement date: | Dec. 3
|
| Stock symbol: | TSX Venture: EST
|
| Stock price: | C$0.73 at close Dec. 3
|
| Market capitalization: | C$8.68 million
|
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