Deal sells units of one share, a half-share warrant at C$0.15 per unit
By Devika Patel
Knoxville, Tenn., Nov. 26 - Redstar Gold Corp. said it plans a C$2 million non-brokered private placement of units on Nov. 23. The company expects insider participation.
The company will sell 13,333,333 units of one common share and one half-share warrant at C$0.15 per unit.
Each whole warrant is exercisable for 18 months at C$0.25, a 38.89% premium to the Nov. 22 closing price of C$0.18.
Proceeds will be used for exploration on the company's Alaskan properties and general ongoing corporate matters.
Redstar is a gold exploration company based in Vancouver, B.C.
Issuer: | Redstar Gold Corp.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$2 million
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Units: | 13,333,333
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Price: | C$0.15
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Warrants: | One half-share warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.25
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Agent: | Non-brokered
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Pricing date: | Nov. 23
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Stock symbol: | TSX Venture: RGC
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Stock price: | C$0.18 at close Nov. 22
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Market capitalization: | C$11.8 million
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