Business
Heliostar Announces $3 Million Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 23, 2022) - Heliostar Metals Limited (TSXV...
About this update from Heliostar Metals Ltd
[{"type":"text","content":"Heliostar Announces $3 Million Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - June 23, 2022) - Heliostar Metals Limited (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) (\"Heliostar\" or the \"Company\") is pleased to announce a non-brokered private placement of up to 12,000,000 units (the \"Units\") at a price of $0.25 per Unit for gross proceeds of approximately $3,000,000 (the \"Offering\").Each Unit will consist of one common share in the capital of the Company (each a \"Common Share\") and one common share purchase warrant (a \"Warrant\"). Each Warrant shall initially entitle the holder to purchase one additional Common Share at an exercise price of $0.50 per Common Share until the date (the \"Transition Date\") that is six months following the Closing Date. On the Transition Date, each outstanding Warrant shall automatically (without any need for notice or action) convert into a half-warrant (each, a \"Half-Warrant\") and thereafter the holder will only be entitled to purchase one Common Share upon the exercise of two Half-Warrants at an aggregate exercise price of $0.75 per Common Share. The Half-Warrants will expire eighteen months after the Transition Date.The Company intends to use the net proceeds from the Offering to advance the Company's Alaskan and Mexican projects, as well as for working capital and general corporate purposes. The Company anticipates commencing drilling at the Centennial prospect at Unga in late July, 2022.The Offering is scheduled to close on or about the 29th of July and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or to U.S. Persons (as that term is defined in Rule 902(k) of Regulation S), nor shall this press release be construed to constitute such an offer or solicitation in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the \"1933 Act\") or under any U.S. state securities laws, and may not be offered or sold in the United States absent ...