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Estrella Gold Corp Increases Private Placement to $1.1 Million


Wednesday, 3 Oct 2012 04:15pm EDT 

Estrella Gold Corp announced that the non-brokered private placement offering announced on September 18, 2012 has been over-subscribed. Estrella has increased the offering from $750,000 to $1,133,250 or 7,555,000 units and the offering is fully subscribed. Two strategic shareholders decided to increase their positions significantly and this has oversubscribed the financing. Each of these shareholders have been long term investors in Estrella and supporters of the prospect generator model which Estrella follows. Estrella will use the proceeds on several strategic fronts which include: advancing three of Estrella's gold targeted Peruvian properties; continuing Joint Venture negotiations on current projects; exploring 4 licenses under application in the Dominican Republic; and, for working capital and general corporate purposes. Each Unit is comprised of one common share and one non-transferable warrant (each a Warrant). Each Warrant entitles the holder to purchase one common share at an exercise price of $0.25 per share for three years following the date of the closing. The Offering is subject to TSX Venture Exchange acceptance and is expected to close shortly. The securities issued pursuant to the Offering will all be subject to a 4 month regulatory hold period commencing from the date of closing. 

Company Quote

0.05
-0.0050 -9.09%
17 Apr 2014