Business
TriStar Closes Final Tranche of $3.2 Million Non-Brokered Private Placement
Scottsdale, Arizona--(Newsfile Corp. - September 5, 2023) - TriStar Gold Inc. (TSXV: TSG) (OTCQX:...
About this update from Tristar Gold Inc.
[{"type":"text","content":"TriStar Closes Final Tranche of $3.2 Million Non-Brokered Private PlacementScottsdale, Arizona--(Newsfile Corp. - September 5, 2023) - TriStar Gold Inc. (TSXV: TSG) (OTCQX: TSGZF) (\"TriStar\" or the \"Company\") is pleased to announce that it has closed the final tranche of its non-brokered private placement (the \"Offering\"), previously described in the Company's press releases dated August 2, 2023 and August 30, 2023. A total of 12,061,538 units of the Company were sold under the final tranche of the Offering, at a price of Cdn $0.13 per unit for gross proceeds to the Company of Cdn $1,568,000. Each unit is comprised of one common share of the Company and one-half of one transferable share purchase warrant. Each full warrant is exercisable for one common share of the Company at an exercise price of Cdn $0.20 per share and a three-year term-to-maturity. The Company previously completed the first tranche of the Offering for total gross proceeds of Cdn $1,665,970 on August 30, 2023, bringing total gross proceeds to Cdn $3,233,970. The Company paid no commission or finder's fees in connection with the Offering.The Company intends to use the net proceeds of the Offering to advance the permitting of the Company's 100% owned Castelo de Sonhos property and for general working capital purposes. All securities issued in connection with the final tranche of the Offering are subject to a four-month hold period expiring on January 6, 2024 in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the \"Exchange\"). The Offering is subject to the final approval of the Exchange.Early Warning DisclosureAuramet Capital Partners, L.P. (\"Auramet\") acquired 12,061,538 units at a price of Cdn $0.13 per unit pursuant to the final tranche of the Offering, for a total subscription price of Cdn $1,568,000. As a result, Auramet acquired 12,061,538 shares and 6,030,769 warrants. Auramet is providing the following disclosure pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (\"NI 62-103\") as Auramet's ownership over the shares of the Company increased by more than 2% of the issued and outstanding shares on an undiluted and a partially-diluted basis since the last early warning report filed by Auramet. Immediately prior to the final tranche of the ...