TriStar Gold (TSX-V:TSG) has closed a C$10.4 million ($10.48 million) brokered private placement to fund exploration and development at its Brazilian gold properties.
The company issued 45,011,000 units at C$0.23 each, including the full exercise of agents’ over-allotment option.
Each unit comprises one common share and half a warrant, with full warrants exercisable at C$0.30 until 4 June 2028.
Stifel Canada led the placement as sole bookrunner alongside Paradigm Capital. The agents received a cash fee of C$621,151.8 and 2,700,660 compensation warrants exercisable at C$0.23 per share until the expiry date.
The company intends to use net proceeds for exploration and development of its mineral properties and general working capital.
TriStar Gold is a mineral exploration and development company focused on its wholly owned flagship Castelo de Sonhos gold project in Pará State in northern Brazil.
Write to JC Villarba at Mining.com.au
Images: TriStar Gold
