Company sells common shares and two-year warrants at C$0.30 per unit
By Devika Patel
Knoxville, Tenn., June 13 – TriStar Gold Inc. said it has negotiated a C$6 million private placement of units with a C$900,000 greenshoe.
Beacon Securities Ltd. is the lead agent and bookrunner, and Paradigm Capital Inc. is also an agent.
The company will sell 20 million units of one common share and one half-share warrant at C$0.30 per unit on a commercially-reasonable efforts basis. Each whole warrant will be exercisable at C$0.55 for two years. The strike price is a 52.78% premium to C$0.36, the June 10 closing share price.
Settlement is expected June 16.
Proceeds will be used to conduct an infill drill program at the company’s Castelo de Sonhos project in Brazil.
The gold exploration company is based in Houston.
| Issuer: | TriStar Gold Inc.
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| Issue: | Units of one common share and one half-share warrant
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| Amount: | C$6 million
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| Greenshoe: | C$900,000, or 3 million units
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| Units: | 20 million
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| Price: | C$0.30
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.55
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| Agent: | Beacon Securities Ltd. (lead), Paradigm Capital Inc.
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| Pricing date: | June 13
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| Settlement date: | June 16
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| Stock symbol: | TSX Venture: TSG
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| Stock price: | C$0.36 at close June 10
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| Market capitalization: | C$36.12 million
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