Non-brokered deal proceeds used for drilling at the Colpayoc property
By Devika Patel
Knoxville, Tenn., June 20 - Estrella Gold Corp. said it will conduct a C$4.03 million non-brokered private placement of units.
The company will sell 6.2 million units of one common share and one warrant at C$0.65 per unit. Each two-year warrant will be exercisable at C$1.05 in the first year and at C$1.20 in the second year. The strike prices are 38.16% and 57.9% premiums to the June 17 closing share price of C$0.76.
Proceeds will be used for a drill program at the Colpayoc property, property payments, 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$4.03 million
|
| Units: | 6.2 million
|
| Price: | C$0.65
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike prices: | C$1.05 in the first year, C$1.20 in the second year
|
| Agent: | Non-brokered
|
| Pricing date: | June 20
|
| Stock symbol: | TSX Venture: EST
|
| Stock price: | C$0.76 at close Nov. 17
|
| Market capitalization: | C$12.81 million
|
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