Business
Northstar Gold Corp. Closes Initial Public Offering and Announces Listing on the Canadian Securities Exchange
New Liskeard, Ontario, December 31, 2019 – Northstar Gold Corp. (CSE: NSG) (“Northstar” or the “Corporation”) is pleased to announce that it has completed its i
About this update from Northstar Gold Corp. Class A
[{"type":"text","content":"New Liskeard, Ontario, December 31, 2019 – Northstar Gold Corp. (CSE: NSG) (“Northstar” or the “Corporation”) is pleased to announce that it has completed its initial public offering of 9,985,498 common shares at the price of $0.30 per common share for gross proceeds of $2,995,649.40 (the “Offering” or the “IPO”). The Corporation will be listed as a natural resource company on the Canadian Securities Exchange (the “CSE”) and the common shares are expected to commence trading on the CSE on January 2, 2020 under the trading symbol “NSG”. Haywood Securities Inc. and Canaccord Genuity Corp. (collectively, the “Co-Lead Agents”) acted as co-lead agents and joint bookrunners under the Offering. For their services, the Co-Lead Agents received a cash commission equal to 10% of the gross proceeds of the Offering, and 998,549 common shares reserved for issuance upon exercise of the common share purchase warrants granted to the Co-Lead Agents upon completion of the IPO (the “Agents’ Warrants”). The Agents’ Warrants are exercisable at a price of $0.30 per common share within two (2) years of the date of issuance. The Corporation intends to use the net proceeds from the Offering to complete Phase I of the work program recommended in the Technical Report dated December 10, 2018, entitled “Independent Technical Report on the Miller Gold Project, Kirkland Lake, Ontario” (the “Technical Report”), and for general and administrative purposes. The Flagship Property – Miller Gold Property The Corporation’s key asset is the historic Miller Gold Property, situated 18 km southeast of Kirkland Lake Gold’s Macassa South Mine Complex (SMC) in northeastern Ontario. The Miller Gold Property has historically been the focus of a number of shallow mining ventures, including the Miller-Independence Mine during the early 1900’s. The Miller Gold Property has only been partially explored near surface and shares a number of important geological similarities with Kirkland Lake Gold’s SMC and Eldorado Gold’s nearby Lamaque Project in Quebec. The Corporation acquired the Miller Gold Property by staking in 2012 and, since that time, has spent approximately $2M on exploration work on the Miller Gold Property, including ground geophysics, geological mapping, sampling, bulk sampling and surface drilling. This work partially validated a near-surface, historic gold estimate ...