17 December 2020
Blue Star Gold Corp. announces that it has granted incentive stock options to purchase a total of 10,600,000 common shares at an exercise price of $0.11 per common share for a period of 3 years to certain directors, officers and consultants in accordance with the provisions of its stock option plan.
The Company announces that it will issue an aggregate of 4,000,000 bonus shares (the "Bonus Shares") at a deemed price of $0.05 per Bonus Share pursuant to loan agreements entered into with certain parties for an aggregate principal amount of $1,000,000 (the "Loans"). The Loans bear an annual simple interest rate of 7.5%. The aggregate number of Bonus Shares equals 20% of the principal amount of the Loans.
The Loan Agreements and issuance of Bonus Shares were previously approved by the TSX Venture Exchange (the "Exchange") on June 22, 2020.