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TriStar Announces $5.0 Million Non-Brokered Private Placement with Auramet
Scottsdale, Arizona--(Newsfile Corp. - March 31, 2022) - TriStar Gold Inc. (TSXV: TSG) (OTCQX:...
About this update from Tristar Gold Inc.
[{"type":"text","content":"TriStar Announces $5.0 Million Non-Brokered Private Placement with AurametScottsdale, Arizona--(Newsfile Corp. - March 31, 2022) - TriStar Gold Inc. (TSXV: TSG) (OTCQX: TSGZF) (\"TriStar\" or the \"Company\") is pleased to announce a non-brokered private placement in which Auramet Capital Partners LP (\"Auramet\") has agreed to subscribe for and purchase 25,000,000 units of the Company (the \"Units\") at a price of $0.20 per Unit for gross proceeds to the Company of $5.0 million (the \"Offering\"). Each Unit will consist of one common share in the capital of the Company (each a \"Common Share\") and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall entitle the holder to acquire an additional Common Share at an exercise price of $0.30 for a period of 24 months following the closing of the Offering. The Company has the right to accelerate the warrant exercise if i) the Company's share price trades over $0.40 per common share for 30 consecutive days; and ii) the Company has obtained its Preliminary License for its Castelo de Sonhos gold project.As a result of the Offering, Auramet will hold approximately 9.8% of the issued and outstanding shares of the Company. \"We are very pleased that Auramet has chosen to partner with TriStar to advance our Castelo de Sonhos gold project in Pará State, Brazil,\" said Nick Appleyard, President and CEO of TriStar. \"We view Auramet as a sophisticated financial market participant and see its investment as further validation of the value we see at Castelo de Sonhos.\"The Company intends to use the net proceeds of the Offering to further advance its Castelo de Sonhos gold project and for general working capital purposes.INFOR Financial Inc. acted as financial advisor in connection with this Offering. The Company may pay finder's fees in cash or shares to eligible finders. All securities issued pursuant to this Offering will have a hold period expiring four months and one day after the closing date.The Offering is scheduled to close on or around April 14, 2022, and is subject to certain conditions including, but not limited to, receipt of all regulatory approvals, including the approval of the TSX Venture Exchange.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchan...