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Northstar Announces Non-Brokered Critical Minerals Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 17, 2024) - Northstar Gold Corp. (CSE: NSG)...
About this update from Northstar Gold Corp. Class A
[{"type":"text","content":"Northstar Announces Non-Brokered Critical Minerals Private PlacementVancouver, British Columbia--(Newsfile Corp. - June 17, 2024) - Northstar Gold Corp. (CSE: NSG) (\"Northstar\" or the \"Company\"), announces a non-brokered private placement financing (the \"Offering\") for minimum aggregate proceeds of $1,000,000 (CDN.). The Offering includes a Critical Minerals flow-through component (the \"Flow-Through Component\"), which is comprised of a minimum of 12 million flow-through units (the \"Flow-Through Units\") at a price of $0.05 per Flow-Through Unit for minimum gross proceeds of $600,000. Each Flow Through Unit is comprised of one flow-through common share (each, a \"Flow Through Share\") and one-half non-flow through share purchase warrant. Each full warrant is exercisable for one non-flow through common share (each, a \"Share\") at an exercise price of $0.10 for a term of 24 months after the closing. The non-flow through component of the Offering (the \"Non-Flow Through Component\") is comprised of a minimum of 9 million non-flow through units (the \"Non-Flow Through Units\") at a price of $0.045 per Non-Flow Through Unit for minimum gross proceeds of $400,000. Each Non-Flow Through Unit is comprised one Share and one non-flow through warrant, with each warrant exercisable for one common share at an exercise price of $0.08 for a term of 24 months after the closing. Management of the Company reserves the right to amend the final allocation of the Flow-Through Component and the Non-Flow Through Component under the Offering. Use of ProceedsThe gross proceeds from the sale of the Flow-Through Shares will be used to incur eligible Canadian Exploration Expenses (\"CEE\") which will be used primarily to fund Critical Minerals exploration and diamond drilling a newly-defined, 350 metre long, 200 Siemens near-surface EM conductor, 600 - 900 metres southeast and along strike from the historic, high-grade Cam Copper Mine on Northstar's Miller Copper-Gold Property - See Northstar News Release dated May 16, 2024. This \"Zone 2 Extension Conductor\" is coincidental with several magnetic anomalies and possibly represents the southeast expansion of previously drilled Cam Copper VMS Zone 2 (14.8% copper over 2.5 metres in DDH CC03-23 - See Northstar News Release dated November 23, 2023). Zone 2 Extension Conductor possibly indicates copper...