Blue Star Gold announces a non-brokered private placement
27 November 2020
Blue Star Gold Corp. announces that, subject to the approval of the TSX Venture Exchange (the "Exchange"), it proposes to issue up to 25,000,000 units (the "Units") at a price of $0.08 per Unit through a non-brokered private placement (the "Private Placement") to raise up to $2,000,000 in gross proceeds.
Each Unit will consist of one common share (a "Share") and one transferable common share purchase warrant (a "Warrant") with each Warrant exercisable into Shares of the Company at a price of $0.11 per Share for one year from the date of closing of the Private Placement.
All securities issued will be subject to a four-month hold period pursuant to securities laws in Canada. Finders' fees may be payable to qualified parties.
The Company intends to use the net proceeds from the Private Placement for exploration and development of the Company's projects in Nunavut and general working capital.