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Blue Star Gold Announces Closing of Final Tranche of Non-Brokered Private Placement, Conversion of Debt and Cancellation of Warrants
Vancouver, British Columbia--(Newsfile Corp. - July 20, 2021) - Blue Star Gold Corp. (TSXV: B...
About this update from Blue Star Gold Corp.
[{"type":"text","content":"Blue Star Gold Announces Closing of Final Tranche of Non-Brokered Private Placement, Conversion of Debt and Cancellation of WarrantsVancouver, British Columbia--(Newsfile Corp. - July 20, 2021) - Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP0) (\"Blue Star\" or the \"Company\") announces that, further to its news releases of June 1, 2021 and June 18, 2021, and subject to the final approval of the TSX Venture Exchange (the \"Exchange\"), it has closed the final tranche of its non-brokered private placement (the \"Private Placement\") issuing 1,276,741 flow-through shares (each a \"FT Share\") and 6,847,549 common shares (each a \"Share\") at a price of $0.70 per FT Share and Share raising gross proceeds of $5,687,002.80. Total proceeds of $8,426,630.60 were raised in both tranches through the issuance of 2,738,994 FT Shares and 9,299,049 Shares at a price of $0.70 per Share. Blue Star's CEO, Grant Ewing, commented, \"We truly appreciate the strong endorsement from our long-standing shareholders and many new investors who participated in our fully subscribed financing and supported our capital restructuring plan. The Company now has a very attractive capital structure, a pristine balance sheet, and is fully funded to carry out its current exploration program where multiple priority targets will be drill tested on its district scale projects in Nunavut.\"The Company's share capitalization following closing of the Private Placement is as follows:Number of Securities Common Shares 50,170,266 Stock Options 1,965,000 Warrants 2,798,910  The Company paid finder's fees totaling $38,952.91 to EMD Financial Inc., Red Cloud Financial Services Inc. and Dundee Goodman Merchant Partners and issued an aggregate of 229,051 finder's shares (the \"Finder's Shares\") at a deemed price of $0.70 per Share to Teresa Schmidt and GloRes Securities Inc. The Shares, FT Shares and Finder's Shares are subject to a four-month hold period pursuant to securities laws in Canada and, where applicable, the Exchange. The Company intends to use the net proceeds from the Private Placement for exploration and development of the Company's projects in Nunavut and for general working capital.Debt Conversion and Warrant CancellationsThe Company also announces that on July 2, 2021, it issued an aggregate of 8,200,000 Shares at a deemed price of $0.50 per Share pursuant ...