Novastar Resources completes $15 million private placement

By Sheri Kasprzak

New York, May 3 - Novastar Resources Ltd. has settled a $15 million private placement.

The proceeds from the offering will be used to enhance Thorium Power, Inc.'s portfolio of intellectual property, make alliances in the nuclear sector and strengthen the company's balance sheet.

Novastar completed its merger with Thorium in February.

The full details of the offering, according to a statement from Novastar, will be released at a later time.

On Wednesday, the stock gained 7.58%, or 5 cents, to settle at $0.71 (OTCBB: NVAS).

Based in New York, Novastar is a mineral exploration company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.