Business
Heliostar Announces $4.6M in Commitments Under Warrant Incentive Program
Vancouver, British Columbia--(Newsfile Corp. - November 21, 2023) - Heliostar Metals Ltd. (TSXV: ...
About this update from Heliostar Metals Ltd
[{"type":"text","content":"Heliostar Announces $4.6M in Commitments Under Warrant Incentive ProgramVancouver, British Columbia--(Newsfile Corp. - November 21, 2023) - Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) (\"Heliostar\" or the \"Company\") is pleased to provide an update on its warrant exercise incentive program previously announced on November 14, 2023 (the \"Warrant Incentive Program\"). The Warrant Incentive Program was designed to encourage the early exercise of up to 46,363,630 common share purchase warrants issued on March 16, 2023 (the \"Outstanding Warrants\").To date, holders of 15,368,864 Outstanding Warrants have committed to participate in the Warrant Incentive Program. Early exercise of such Outstanding Warrants would result in gross proceeds to the Company of $4,610,659. \"We continue to move rapidly forward with the Ana Paula project. The near future has a lot of valuation growth catalysts including resource growth, de-risking studies, accelerated path-to-production and continued exploration success. The first of the catalysts, an updated mineral resource estimate, is expected this month,\" commented Heliostar CEO, Charles Funk. He continued, \"To maintain strength in the balance sheet to achieve these milestones the Company has looked within its share structure to minimize dilution. The Warrant Incentive Program has received significant commitments totalling $4.6 million to date. We believe it provides one of the least dilutive financing outcomes for all Heliostar shareholders. The offering Warrant Incentive Program remains open until December 8, 2023.\"Webinar InvitationThe Company is hosting a webinar on November 28 at 1pm Pacific/4pm Eastern time to provide an update on the Ana Paula Project. Please use the link here to register for the webinar:https://us02web.zoom.us/webinar/register/WN_oPjMzlKFQq23gNkh0jE-zA#/registration About the Warrant Incentive ProgramPursuant to the Warrant Incentive Program, the Company has offered to holders of all 46,363,630 Outstanding Warrants the opportunity to exercise each of their Outstanding Warrants between 12:00 a.m. PST on November 17, 2023 and 12:00 p.m. PST on December 8, 2023. In return for the early exercise, each holder will receive one common share in the capital of the Company (each a \"Common Share\") pursuant to the original warrant terms, plus as an incentive, one-t...