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Redstar Gold Corp. Announces $7 Million Non-Brokered Private Placement
(via TheNewswire) Vancouver, Canada - TheNewswire - August 4, 2020 - Redstar ...
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[{"type":"text","content":"Redstar Gold Corp. Announces $7 Million Non-Brokered Private Placement(via TheNewswire)\n \n \nVancouver, Canada - TheNewswire - August 4, 2020 - Redstar Gold Corp. (TSXV:RGC), (OTC:RGCTF), (FRA:RGG) (\"Redstar\" or the \"Company\") is pleased to announce the commencement of a non-brokered private placement offering (the \"Offering\") of up to 87,500,000 common shares (each a \"Share\") at a price of C$0.08 per Share for aggregate gross proceeds of up to C$7,000,000.\n\n \n \nOn July 23, 2020, Redstar announced that it had entered into an agreement to acquire Heliodor Metals Limited (\"Heliodor\") in exchange for 86.5 million Redstar common shares. One of the conditions precedent to completion of that acquisition is that Redstar raise at least C$6,000,000 in a private placement. This Offering is intended to satisfy that closing condition.\n\n\n \nRedstar intends to use the proceeds of the Offering to fund exploration programs and for general corporate purposes.\n\n\n \nRedstar may pay finders' fees in connection with the Offering, and all securities issued in the Offering will be subject to a statutory Canadian hold period expiring four months and one day after closing and, where applicable, additional resale restrictions imposed by other selling jurisdictions. Completion of the Offering is subject to a number of conditions, including receipt of regulatory approvals and approval of the TSX Venture Exchange.\n\n\n \nNone of the securities to be issued in the Offering will be or have been registered under the United States Securities Act of 1933, as amended (the \"1933 Act\"), and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the Shares offered in the Offering in any state where such offer, solicitation or sale would be unlawful.\n\n\n \n2020 Exploration Plans\n\n\n \nRedstar is in the advanced stages of finalizing its 2020 exploration plans for its flagship Unga project, including a 6,600 to 10,000 metre diamond drilling program with an exploration budget of between C$3.0M and C$5.0M. Redstar intends to focus this program on four advanced targets at SH-1, Aquila, Apollo-Sitka and Centennial Zones.\n\n\n \n...