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TriSTar Gold (TSXV:TSG) has announced that it has filed a preliminary short form prospectus in British Columbia, Alberta and Ontario in connection with a proposed offering of units for gross proceeds of a minimum of $4 million. As quoted in the press release: The Offering will be conducted on a best effort basis through Echelon …
TriSTar Gold (TSXV:TSG) has announced that it has filed a preliminary short form prospectus in British Columbia, Alberta and Ontario in connection with a proposed offering of units for gross proceeds of a minimum of $4 million.
As quoted in the press release:
The Offering will be conducted on a best effort basis through Echelon Wealth Partners Inc. and Paradigm Capital Inc. acting as co-lead Agents (the “Agents”).
The Offering will be priced in the context of the market with the specifics of the Offering to be determined at the time of pricing. Each Unit will consist of one common share in the capital of TriStar Gold and one-half of a of common share purchase warrant, with each whole common share purchase warrant entitling the holder thereof to purchase one common share of the Company at an exercise price to be determined in the context of the market, within 24-months from the closing date of the Offering, subject to acceleration in certain circumstances.
The Company has also agreed to grant the Agents an option to cover over-allotments and for market stabilization purposes (the “Over Allotment Option”), which will allow the Agents to arrange for purchasers to acquire up to an additional 15% of the number of Units initially sold under the Offering. The Over Allotment Option will be exercisable, in whole or in part, at any time up to 30 days after the closing of the Offering.
The Company intends to use the net proceeds of the Offering for drilling and studies to advance the Company’s Castelo de Sonhos in Pará State, Brazil and for general working capital purposes.
