Business
Northstar Gold Corp. Announces Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2023) - Northstar Gold Corp. (CSE: NSG...
About this update from Northstar Gold Corp. Class A
[{"type":"text","content":"Northstar Gold Corp. Announces Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - August 15, 2023) - Northstar Gold Corp. (CSE: NSG) (\"Northstar\" or the \"Company\"), announces a non-brokered private placement financing (the \"Offering\") for targeted minimum proceeds of $500,000. The Offering will consist of units of the Company (\"Units\") at a price of C$0.055 per Unit. Each Unit shall consist of one common share of the Company and one share purchase warrant, with each whole share purchase warrant (a \"Warrant\") entitling the holder thereof to acquire one additional common share of the Company at an exercise price of C$0.075 for a period of 24 months from the date of issuance. Proceeds from this private placement will be used primarily to fund Critical Minerals exploration at the historic high-grade Cam Copper Mine on the 100%-owned Miller Gold Property. Proceeds will also provide for LIDAR and MMI soil surveys on the Company's 100%-owned Rosegrove Property, targeting alkaline intrusion-hosted gold mineralization, and for general working capital purposes. The Offering is scheduled to close in tranches, with the first tranche of approximately $200,000 expected to close between August 15 and 25, 2023 and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange. The Offering is being made by way of private placement in Canada and such other jurisdictions as the Company may determine. The Company may pay finder's fees on a portion of the Offering of up to 7 % of the aggregate gross proceeds raised. The finder's fees shall be paid in accordance with applicable securities laws and the policies of the Canadian Securities Exchange. It is anticipated that certain directors, officers and other insiders of the Company may acquire Units under the Offering. Such participation will be considered to be \"related party transactions\" within the meaning of TSX Venture Exchange Policy 5.9 (the \"Policy\") and Multilateral Instrument 61-101-Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") adopted in the Policy. The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(...