Business
Northstar Gold Announces C$1.1 Million Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - December 6, 2023) - Northstar Gold Corp. (CSE: NSG) ("Northstar" or the "Company"), announces a non-brokered priv
About this update from Northstar Gold Corp. Class A
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - December 6, 2023) - Northstar Gold Corp. (CSE: NSG) (\"Northstar\" or the \"Company\"), announces a non-brokered private placement financing (the \"Offering\") for aggregate proceeds of up to $1,100,000 (CDN.). The Offering includes a flow-through component (the \"Flow-Through Component\"), which is comprised of up to 10 million flow-through units (the \"Flow-Through Units\") at a price of $0.06 per Flow-Through Unit for gross proceeds of up to $500,000. Each Flow Through Unit is comprised of one flow-through common share (each, a \"Flow Through Share\") and one 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 up to 9,090,909 non-flow through units (the \"Non-Flow Through Units\") at a price of $0.055 per Non-Flow Through Unit for gross proceeds of up to $500,000. 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 $0.075 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. The 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 the Critical Minerals exploration at the historic high-grade Cam Copper Mine on the 100%-owned Miller Gold Property. Proceeds will also provide for follow-up of 2023 LiDAR and MMI soil survey results on the Company's 100%-owned Rosegrove Property, targeting alkaline intrusion-hosted gold mineralization, and for general working capital purposes. The Company will renounce CEE effective on or before December 31, 2023. The proceeds raised from the Non-Flow Through Component will also be used for non-critical minerals exploration work on the Miller Gold Property and for general working capital. The Offering is scheduled to close in tranches, with the first tranche of approximately $400,000 expected to close between December 6th and 11th, 2023, and i...