Homestake Resource Corporation Closes First Tranche of Non-Brokered Private Placement

Homestake Resource Corporation(TSXV:HSR) announced the closing of the first tranche of its non-brokered private placement. The placement consists of 10 million common flow-through shares and 10 million units for gross proceeds of $1,058,500. The Company expects to start drilling in August and continue into the fall.

As quoted in the press release:

Each flow-through share is priced at $0.25 per share and each non flow-through Unit is priced at $0.20 per Unit. Each Unit is comprised of one common share and one share purchase warrant, each whole warrant entitling the purchase of one common share at a price of $0.30 per share for 36 months.

Click here to read the Homestake Resource Corporation (TSXV:HSR) press release

Click here to see the Homestake Resource Corporation (TSXV:HSR) profile