Business
Heliostar Announces Closing of C$20.4M (US$15.0M) Private Placement and Provides Ana Paula and San Antonio Transaction Updates
Vancouver, British Columbia--(Newsfile Corp. - March 17, 2023) - Heliostar Metals Limited (TSXV: ...
About this update from Heliostar Metals Ltd
[{"type":"text","content":"Heliostar Announces Closing of C$20.4M (US$15.0M) Private Placement and Provides Ana Paula and San Antonio Transaction UpdatesVancouver, British Columbia--(Newsfile Corp. - March 17, 2023) - Heliostar Metals Limited (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) (\"Heliostar\" or the \"Company\") is pleased to announce that further to its news releases dated December 5, 2022, January 17, 2023 and March 3, 2023, it has closed its previously announced non-brokered private placement offering (the \"Offering\"), of which the Company issued 92,727,272 units (each a \"Unit\") at a price of C$0.22 per Unit for gross aggregate proceeds of approximately C$20,400,000 (US$15,000,0001). The Company is also pleased to provide an update on its proposed acquisition (the \"Transaction\") of all of the issued and outstanding shares of Aurea Mining Inc. (\"Aurea Mining\"), a wholly owned subsidiary of Argonaut Gold Inc. (\"Argonaut\"), which through Aurea Mining's wholly owned subsidiary Minera Aurea S.A. de C.V. (\"Minera Aurea\"), holds a 100% indirect interest in and to the Ana Paula Gold project (the \"Ana Paula Gold Project\"), as well as its option agreement (the \"Option Agreement\") with Argonaut and its wholly owned subsidiary, Compañía Minera Pitalla S.A. de CV, pursuant to which the Company has been granted an option (the \"Option\") to acquire a 100% interest in the San Antonio Gold project (the \"San Antonio Gold Project\").Private Placement DetailsEach Unit consists of one common share (each, a \"Share\") in the capital of the Company and one-half of one non-transferable Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall entitles the holder thereof to purchase one additional Share (each, a \"Warrant Share\") at an exercise price of C$0.30 per Warrant Share for a period of thirty-six (36) months following the date of issuance (the \"Date of Issue\").Aggregate finder's fees of $554,700 in cash were paid and 2,521,461 non-transferable broker warrants (each, a \"Broker Warrant\") were issued to three qualified finders. Each Broker Warrant is exercisable into one Share (each a \"Broker Warrant Share\") at an exercise price of $0.30 per Common for a period of thirty-six (36) months following the Date of Issue.The proceeds from the Offering are anticipated to be used for the purchase and subsequent exploratio...