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Redstar Gold Corp. Announces Agreement to Acquire Heliodor Metals Limited
(via TheNewswire) Vancouver, Canada - TheNewswire - July 23 rd 2020 - Reds...
About this update from Heliostar Metals Ltd
[{"type":"text","content":"Redstar Gold Corp. Announces Agreement to Acquire Heliodor Metals Limited(via TheNewswire)\n \n \nVancouver, Canada - TheNewswire - July 23rd 2020 - Redstar Gold Corp. (TSXV:RGC), (OTC:RGCTF), (FRA:RGG) (\"Redstar\" or the \"Company\") is pleased to announce that it has entered into a binding agreement to acquire 100% of the shares of Heliodor Metals Limited (\"Heliodor\"). in which Redstar Gold has agreed to issue 86.5 million Redstar shares at a deemed Redstar share price of C$0.05 for 100% of the outstanding Heliodor shares.\n\n\n \nHIGHLIGHTS:\n\n\n \n\n\n- Heliodor has interests in three 3 epithermal gold and silver projects in Sonora, Mexico, C$1.5 Million in cash and no debt.\n\n\n\n- Redstar has agreed to appoint Charles Funk as CEO of Redstar.\n\n\n\n- Redstar has agreed to conduct a private placement offering of its common shares to raise a minimum of C$6.0M.\n\n\n\n- Redstar has agreed to ask its shareholders to approve a share consolidation and a name change, and to nominate a Board consisting of three nominees from each of Redstar and Heliodor.\n\n\n\n- Exploration at Redstar's flagship Unga project to commence in late August\n\n\n\n \n \nRedstar Chairman Jacques Vaillancourt said \"This is an exciting watershed for Redstar. The proposed acquisition promises several key strategic additions; a portfolio of exciting projects in Mexico, funding to achieve short term exploration goals and a strong addition to our management team with the appointment of Charles Funk. Unga will remain our flagship asset and our focus in 2020 will be to add to the maiden 383,318 oz gold resource grading 13.8 g/t at SH-1.\"\n\n\n \nHeliodor's President and Founder, Charles Funk added \"Adding Heliodor to the Redstar group of companies will form a leading exploration company with quality high grade precious metals assets, a tight share structure and a strong financial position. I am excited to join Redstar and unlock the potential of the group's asset base.\n\n\n \nAbout Heliodor\n\n\n \nHeliodor is a private company with a cash position, as of July 21, 2020 (unaudited), of C$1.5M and no debt. The Heliodor mineral projects are within 50 km's of seven (7) world class gold-silver and copper mines, all of which are located in the northern portion of Mexico's Sonora State:\n\n\n \n\n\n1.The Oso Negro Project is an early stage intermediate sulfid...