Business
Northstar Gold Closes Second Tranche of $1.6M Private Placement
Vancouver, British Columbia--(Newsfile Corp. - December 21, 2022) - Northstar Gold Corp. (CSE: NSG) (OTCQB: NSGCF) ("Northstar" or the "Company"), announces the
About this update from Northstar Gold Corp. Class A
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - December 21, 2022) - Northstar Gold Corp. (CSE: NSG) (OTCQB: NSGCF) (\"Northstar\" or the \"Company\"), announces the Company has closed the second tranche of its previously announced $1.6 million non-brokered private placement of units, for gross proceeds of CDN$540,090 (the \"Offering\"). This is in addition to a first tranche gross proceeds close of CDN$905,100.21 previously announced on November 5, 2022. A total of CDN$1,445,155.21 has been raised in both tranches, fulfilling Northstar's planned 2023 Miller Gold Property exploration requirements. The second tranche consisted of 6,354,000 flow-through units (\"Flow-Through Units\"), for total gross proceeds of $540,090. The Flow-Through Units were priced at $0.085 and comprised of one flow-through common share and one non-flow-through share purchase warrant. Each full warrant is exercisable for one non-flow-through common share at an exercise price of $0.10, for a period of 24 months from the closing of the Offering. The Company paid a total of $37,806.30 in finders fees associated with the Offering and issued 444,780 finder warrants at an exercise price of $0.10 and expiring 24 months from the closing date of the Offering. All securities issued under the Offering are subject to a statutory four month hold period from the closing date under applicable Canadian securities laws. The gross proceeds from the sale of the Flow-Through Shares will be used to incur eligible Canadian Exploration Expenses (\"CEE\") at the Company's 100%-owned flag-ship Miller Gold Property, situated 18km southeast of Kirkland Lake, Ontario, the Company's adjoining Rosegrove Gold Property and the Milestone Cu-Ni-Co Property. The Company will renounce CEE effective on or before December 31, 2022. Miller Gold Property Exploration Highlights Since going public by IPO in 2020, Northstar has spent >$4.4 million in exploration at its flagship Miller Gold Property, situated 18 km southeast of Kirkland Lake, resulting in the expansion / discovery of a series of broad, shallow dipping sheeted quartz-gold-telluride vein structures in the Allied Syenite (Allied Gold Zone) and Planet Syenite with numerous 70 - 770 gold gram/metre drill hole intercepts. Recent exploration highlights include: Completed a 2-phase, 22-hole, 4,485 metre drill program at the Miller Gold ...