Analyst Research

Report Title Price
Provider: Reuters Investment Profile
$20.00
Provider: Directors Deals Ltd.
$12.00

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Goldstar Minerals Inc Announces Private Placement Financing


Thursday, 5 Sep 2013 08:00am EDT 

Goldstar Minerals Inc announces that it intends to complete a brokered private placement financing of flow-through units and units, whereby Industrial Alliance Securities Inc. will act as exclusive agent for the sale of up to 12,000,000 flow-through units at a price of $0.10 per Flow-Through Unit and up to 3,750,000 units at a price of $0.08 per Unit for aggregate gross proceeds in the amount of $1,500,000. Each Flow-Through Unit will consist of one flow-through common share and one-half of one common share purchase warrant. Each Warrant will entitle the holder to acquire one common share of the Company at a price of $0.12 for a period of 24 months following the completion of the Offering. As consideration to the Agent, the Company has agreed to pay a cash commission in an amount equal to 8.75% of the gross proceeds raised in the Offering and shall issue the Agent compensation options to acquire that number of Common Shares which equals 6% of the Flow-Through Units and Units sold pursuant to the Offering. Each Compensation Option shall be exercisable at a price of $0.08 for a period of up to 24 months from the date of issue. The net proceeds of the sale of the Flow-Through Shares will be used by the Company to incur Canadian exploration expenditures, which will be renounced for the 2013 taxation year. The net proceeds of the sale of the Units will be used for the development of the Company's key projects and for general corporate purposes. 

Company Quote

0.025
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13 Feb 2015