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Star Diamond Corporation Announces Closing of $1 Million Flow-Though Private Placement Financing and Additional Non Flow-Through Private Placement of Up to $2 Million
Star Diamond Corporation Announces Closing of $1 Million Flow-Though Private Placement Fi...
About this update from Star Diamond Corporation
[{"type":"text","content":"\n \n \n \n Star Diamond Corporation Announces Closing of $1 Million Flow-Though Private Placement Financing and Additional Non Flow-Through Private Placement of Up to $2 Million\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TSX: DIAM\n \n \n \n \n SASKATOON, SK\n \n ,\n \n Dec. 30, 2020\n \n /CNW/ - Star Diamond Corporation (TSX: DIAM) (\"Star Diamond\" or the \"Corporation\") is pleased to announce the successful closing of a\n \n $1\n \n .0 million private placement of 5,555,556 Flow-Through Units at a price of\n \n $0\n \n .18 per Flow-Through Unit (the \"Flow-Through Offering\").\n \n \n \n \n \n \n \n \n \n Each Flow-Through Unit is comprised of one flow-through common share and one-half (1/2) of one flow-through warrant. Each whole warrant will entitle the holder thereof to purchase one non-flow-through common share at a price of\n \n $0.25\n \n , for a period of twenty-four months from closing. The proceeds from the sale of the Flow-Through Units will be used by the Corporation to incur Canadian exploration expenses (\"Qualifying Expenditures\") prior to\n \n December 31, 2021\n \n (or\n \n December 31, 2022\n \n if the proposals by the Department of Finance resulting from the COVID-19 pandemic, announced on\n \n July 10, 2020\n \n , become law). The Corporation will renounce the Qualifying Expenditures to subscribers of Flow-Through Units for the fiscal year ended\n \n December 31, 2020\n \n .\n \n \n The Corporation issued Red Cloud Securities Inc., acting as finder in connection with the Flow-Through Offering (\"Finder\"), common shares from treasury equal to 5%, and also issued the Finder warrants equal to 5%, of the number of Flow-Through Units attributable to the Finder pursuant to the Flow-Through Offering (the \"Finder's Warrants\"). In relation to the Offering, the Corporation issued 277,778 common shares and 277,778 in Finder's Warrants exercisable at any time up to twenty-four months following the closing of the Flow-Through Offering at\n \n $0.19\n \n...