By Laura Lutz
Des Moines, June 1 - Redstar Gold Corp. closed a private placement of units for C$2.5 million.
The company sold 12.5 million units of one share and one half-share warrant at C$0.20 per unit. Each whole warrant will be exercisable at C$0.30 until May 31, 2009.
PowerOne Capital Markets Ltd. led a syndicate of agents that also included Pacific International Securities Inc.
Proceeds will be used for exploration, for expansion of the company's Nevada property portfolio and for working capital.
Redstar is a gold exploration company based in Vancouver, B.C.
| Issuer: | Redstar Gold Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2.5 million
|
| Units: | 12.5 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | May 31, 2009
|
| Warrant strike price: | C$0.30
|
| Agents: | PowerOne Capital Markets Ltd. (lead), Pacific International Securities Inc.
|
| Settlement date: | June 1
|
| Stock symbol: | TSX Venture: RGC
|
| Stock price: | C$0.26 at close June 1
|
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