- Northstar Gold Corp. (NSG) has closed the first tranche of its non-brokered private placement for gross proceeds of C$905,100.21
- The first tranche consisted of flow-through units for gross proceeds of $449,550.21 and non-flow-through units for $455,550
- Northstar’s primary exploration focus is the advancement of the company’s flagship Miller Gold Property
- Northstar has 3 additional 100 per cent-owned exploration projects in northern Ontario
- Northstar Gold Corp. (NSG) opened trading at C$0.07
Northstar Gold Corp. (NSG) has closed the first tranche of its non-brokered private placement for gross proceeds of C$905,100.21.
The first tranche of the previously announced offering consisted of 5,288,826 flow-through units for gross proceeds of $449,550.21 and 6,074,000 non-flow-through units for $455,550.
The FT units were priced at $0.085 and consisted of one flow-through common share and one non-flow-through share purchase warrant. Each full warrant is exercisable for one non-flow-through common at an exercise price of $0.10 for a period of 24 months.
The non-FT units were priced at $0.075 and consisted of one common share and one share purchase warrant. Each full purchase warrant is exercisable into common shares at a price of $0.10 for a period of 24 months.
The company paid a total of $30,535 in finders fees.
All securities issued are subject to a statutory four-month hold period.
The gross proceeds from the sale of the FT shares will be used to fund further exploration at the company’s 100 per cent-owned flag-ship Miller Gold Property, near Kirkland Lake, Ontario, the adjoining Rosegrove Gold Property and the Milestone Cu-Ni-Co Property.
The proceeds raised from the non-flow-through units will also be used for exploration work on the Miller Gold Property and general working capital.
Northstar’s primary exploration focus is the advancement of the company’s flagship Miller Gold Property. Northstar has 3 additional 100 per cent-owned exploration projects in northern Ontario, including the recently acquired 1,200-ha Rosegrove Property, the 4,650-ha Bryce Gold Property and the recently expanded Temagami-Milestone Cu-Ni-Co Property.
Northstar Gold Corp. (NSG) opened trading at C$0.07.