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Northstar Gold Announces C$1 Million Non-Brokered Flow-Through Private Placement
Financing of Up to $1,000,000 Vancouver, British Columbia--(Newsfile Corp. - March 20, 2020) - Northstar Gold Corp. (CSE: NSG) ("Northstar" or the "Company"), a
About this update from Northstar Gold Corp. Class A
[{"type":"text","content":" Financing of Up to $1,000,000 Vancouver, British Columbia--(Newsfile Corp. - March 20, 2020) - Northstar Gold Corp. (CSE: NSG) (\"Northstar\" or the \"Company\"), announces a non-brokered private placement financing (the \"Offering\") of up to 3,500,000 units of the Company (the \"Units\") at a price of $0.29 per Unit (the \"Unit Price\") for gross proceeds of up to $1,000,000. Each Unit comprises one common flow-through share (a \"FT Share\") and one-half of one common share purchase warrant (a \"Warrant\"). Each Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.43 for a period of 2 years from closing of the Offering. All securities to be issued pursuant to the Offering will be subject to a 4-month hold period under applicable securities laws in Canada. The Company has engaged Canaccord Genuity Corp. and Haywood Securities Inc. to act as its financial advisors for the offering. The Company may compensate persons who act as finders for the Offering in accordance with the rules of the Canadian Securities Exchange (\"CSE\"). The gross proceeds from the sale of the FT Shares will be used to incur eligible Canadian Exploration Expenses (\"CEE\") at the Company's 100%-owned Miller Gold Property, situated 18 km southeast of Kirkland Lake, Ontario. The Company will renounce CEE effective on or before December 31, 2020. The financing is expected to close on or about April 1, 2020. About Northstar Gold Corp. Prior to going public on the CSE on January 2, 2020 by way of a $3 million Initial Public Offering, Northstar operated for the past 11 years as a private company focused primarily on gold exploration in the prolific Kirkland Lake District in northeastern Ontario (>24.5 million ounces gold produced from 7 mines since 1915). During this time, the Company raised nearly $7 million to acquire and advance 3-100% owned gold and base-metal properties in the Kirkland Lake region. Northstar has an accomplished Board, Special Advisor and Management Group comprised of professionals highly experienced in exploration, mining, finance and investment banking on a global basis. In late February, 2020, Northstar commenced a $1.1 million Phase I exploration program, which includes 3,000 m of drilling on its flagship, early-resource stage Miller Gold Property, situated 18 km southeast of th...