Heliostar Metals Closes Bought Deal Equity Financing for Gross Proceeds of $19.5 Million

Heliostar Metals Closes Bought Deal Equity Financing for Gross Proceeds of $19.5 Million

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce that it has closed the bought deal equity financing previously announced by the Company on March 20, 2025, including the partial exercise of the underwriters' option, for aggregate gross proceeds of $19,500,000 (the "Offering"). The Offering was conducted by a syndicate of underwriters led by Cormark Securities Inc. and Velocity Trade Capital Ltd., and including Clarus Securities Inc., BMO Capital Markets, Roth Canada Inc. and Ventum Financial Corp. (collectively, the "Underwriters").

Pursuant to the Offering, the Company issued 19,500,000 common shares (the "Offered Shares") at a price of $1.00 per Offered Share. Mr. Eric Sprott, through 2176423 Ontario Ltd. ("2176423"), a corporation beneficially owned by him, invested $5,000,000 by subscribing for 5,000,000 Offered Shares.

The net proceeds of the Offering will be used for the development of the Company's projects in Mexico, including drilling at Ana Paula, and for general corporate purposes.

In consideration for the services provided by the Underwriters in connection with the Offering, on closing the Company paid to the Underwriters a cash commission equal to 5.0% of the gross proceeds of the Offering.

Of the Offered Shares, (a) 9,000,000 were sold pursuant to the "listed issuer financing exemption" under Part 5A of National Instrument 45-106 – Prospectus Exemptions and therefore are not subject to resale restrictions pursuant to applicable Canadian securities legislation, and (b) 10,500,000 were sold pursuant to other exemptions under applicable Canadian securities legislation and are subject to a hold period expiring on July 29, 2025.

The Offering remains subject to the final acceptance of the TSX Venture Exchange (the "TSX-V").

2176423 is an existing insider of the Company, and as such, its participation in the Offering is a related-party transaction as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company completed the Offering in reliance on exemptions available under MI 61-101 from the formal valuation and minority approval requirements of MI 61-101. Specifically, the Offering is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Section 5.5(b) of MI 61-101 as the Company is not listed on a specified market within the meaning of MI 61-101. Additionally, the Offering is exempt from the minority approval requirement in Section 5.6 of MI 61-101 in reliance on Section 5.7(1)(a) of MI 61-101 insofar as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Offering insofar as it involves "interested parties" exceeds 25% of the Company's market capitalization. The Company did not file a material change report more than 21 days before the expected closing date of the Offering as the details of the Offering and the participation therein by each "related party" of the Company were not settled until shortly prior to closing, and the Company wished to close the Offering on an expedited basis for sound business reasons.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the U.S. Securities Act or any U.S. state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable U.S. state securities laws, or an exemption from such registration requirements is available.

About Heliostar Metals Ltd.

Heliostar aims to grow to become a mid-tier gold producer. The Company is focused on increasing production and developing new resources at the La Colorada and San Agustin mines in Mexico, and on developing the 100% owned Ana Paula Project in Guerrero, Mexico.

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

Charles Funk
President and Chief Executive Officer
Heliostar Metals Limited
Email: charles.funk@heliostarmetals.com
Phone: +1 844-753-0045
Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: rob.grey@heliostarmetals.com
Phone: +1 844-753-0045

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements which, other than statements of historical fact, constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. This press release contains forward-looking information in a number of places such as in statements relating to the use of the net proceeds of the Offering, and the final approval of the TSX Venture Exchange. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual information form and the Company's annual and interim financial statements and corresponding management discussions and analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246462

News Provided by Newsfile via QuoteMedia

HSTR:CC
Heliostar Metals

Heliostar Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Heliostar Metals (TSXV:HSTR)

Heliostar Metals


Keep reading...Show less

Gold miner with a portfolio of producing and developing gold projects in Mexico.

Heliostar Drills 30.2m Grading 6.29g/t Gold in First Resource Conversion Holes at Ana Paula

Heliostar Drills 30.2m Grading 6.29g/t Gold in First Resource Conversion Holes at Ana Paula

HIGHLIGHTS:

  • 30.20m grading 6.29g/t gold from 195.8m
  • 14.75m grading 13.6g/t gold from 153.5m
  • 20.95m grading 6.67g/t gold from 113.5m
  • 12.20m grading 8.72g/t gold from 344.5m
  • Consistent gold mineralization at the western end of the High Grade Panel
  • First results from a 15,000 metre program continuing throughout 2025

Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce its first results from the current 15,000 metre drill program at its 100% owned Ana Paula project in Guerrero, Mexico. The program has the primary goal of converting inferred ounces to higher confidence classifications, as well as supporting the ongoing Feasibility Study and testing the next exploration targets around the Ana Paula deposit.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Heliostar to Restart Mining Operations and Invest in Growth at Its San Agustin Mine, Durango

Heliostar to Restart Mining Operations and Invest in Growth at Its San Agustin Mine, Durango

Highlights:

  • Mining operations to restart at the San Agustin Mine in H2, 2025, with initial production expected in Q4
  • Operations analysis supports a post-tax NPV5% of US$35.25M, IRR of 548%, CAPEX of US$4.2M and an output of 45,000 total gold ounces produced at a US$3,000/oz gold price
  • Restart provides confidence for the first significant Heliostar investment into the future of San Agustin, aimed at extending mine life
  • Drilling will commence immediately in H2, 2025, on oxide expansion targets, followed by sulphide porphyry/breccia exploration

Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce the restart of mining operations at San Agustin, located in the state of Durango. Heliostar presently produces gold from residual leaching at the San Agustin Mine. The Company will increase production by mining the mineral reserve, principally in an area the Company describes as the Corner Area. This is a key milestone to unlock increased value from San Agustin.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Heliostar Metals to Present at the Metals & Mining Virtual Investor Conference July 24

Heliostar Metals to Present at the Metals & Mining Virtual Investor Conference July 24

Heliostar Metals (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1) (" Heliostar " or the " Company ") is pleased to announce that it is participating in the Metals & Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com on July 24, 2025. Vice President Investor Relations & Development Stephen Soock will present live to share how the Company's combination of immediate cash flow, meaningful exploration upside, and high-grade resource development set the stage for it to become the next mid-tier gold producer.

DATE : July 24
TIME: 11:00am EDT
LINK: REGISTER HERE
Available for 1x1 meetings: July 24, 28 and 29

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Heliostar Reports Multiple Stockpile Assays Including 10.7m of 1.81 g/t Gold at La Colorada Mine

Heliostar Reports Multiple Stockpile Assays Including 10.7m of 1.81 g/t Gold at La Colorada Mine

HIGHLIGHTS:

  • 10.7m grading 1.81 g/t gold from surface
  • 19.8m grading 0.62 g/t gold from 4.6 metres
  • 13.7m grading 0.61 g/t gold from surface
  • 9.10m grading 0.87 g/t gold from surface
  • Additional drilling success at the Truckshop stockpile fits La Colorada's strategy to maximize cashflow ahead of pit expansions
  • Definition of stockpiles ongoing at La Colorada with next drilling planned at El Dorado

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce results from the Truckshop stockpile at its operating La Colorada Mine in Sonora, Mexico. This is part of an ongoing drilling program across multiple targets at the mine. La Colorada has been profitably producing precious metals from stockpiles through the first half of 2025.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Heliostar Drills 56.6 Metres Grading 2.88 g/t Oxide Gold from 68 Metres at the La Colorada Mine, Sonora, Mexico

Heliostar Drills 56.6 Metres Grading 2.88 g/t Oxide Gold from 68 Metres at the La Colorada Mine, Sonora, Mexico

HIGHLIGHTS:

  • 56.6m grading 2.88 g/t gold from 68m
  • 23.2m grading 14.4 g/t gold from surface (including 0.85m grading 381 g/t gold)
  • 4.05m grading 17.8 g/t gold from 136m
  • 8.7m grading 6.68 g/t gold from 56m
  • 18.85m grading 3.54 g/t gold from 95m
  • Deeper drilling at the Creston Pit shows a combination of wide intervals and high grades
  • Results will be incorporated in an updated technical study for La Colorada expected to be released mid-2025
  • The focus of drilling at La Colorada will shift to stockpiles and then high-grade veins beneath and along strike from the open pits

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce additional results from an expanded 16,211 metre drilling program at the La Colorada Mine in Sonora, Mexico. La Colorada restarted production in early January 2025, and the current drill program is intended to expand the mineral reserves ahead of an updated technical report and expansion decision planned for mid-2025.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Harvest Gold Announces Mosseau Drill Program Update; Urban Barry Regional Till Program Completed

Harvest Gold Announces Mosseau Drill Program Update; Urban Barry Regional Till Program Completed

(TheNewswire)

Harvest Gold Corporation

Vancouver, British Columbia TheNewswire - August 28, 2025 ‑ Harvest Gold Corporation (TSXV: HVG,OTC:HVGDF) (" Harvest Gold " or the " Company ") is pleased to announce that its diamond drill program at the Mosseau Gold Project is well underway, with the first five holes successfully completed (see Figure 3).

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Kobo Resources to Recommence 2025 Drill Program at the Kossou Gold Project; Appoints Industry Veteran to Support Technical and Regional Growth Strategy

Kobo Resources to Recommence 2025 Drill Program at the Kossou Gold Project; Appoints Industry Veteran to Support Technical and Regional Growth Strategy

  • 12,000 - 15,000 m diamond drill program to expand gold zones and advance toward a maiden Mineral Resource Estimate at the Kossou Gold Project
  • New strategic advisor appointed to support technical execution and identify regional growth opportunities in Côte d'Ivoire and across West Africa
  • Strong investor demand leads to upsized private placement, increasing from $3.0 million to approximately $4.2 million

Kobo Resources Inc. (" Kobo " or the " Company ") ( TSX.V: KRI ) is pleased to announce that it will commence up to 10,000 - 15,000 metre (" m ") of diamond drill program at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire on September 4, 2025, with two diamond drill rigs mobilized to site. In addition, the Company is strengthening its strategic and technical capabilities through the appointment of a highly experienced industry veteran as a consultant and advisor to support its growth initiatives across West Africa.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
NevGold Announces Entry Into Standstill With GoldMining

NevGold Announces Entry Into Standstill With GoldMining

Nevgold Corp. (" NevGold " or the " Company ") ( TSXV:NAU,OTC:NAUFF) (OTCQX:NAUFF) (Frankfurt:5E50 ) is pleased to announce that it has entered into a standstill agreement with GoldMining Inc. (" GoldMining "), pursuant to which GoldMining has agreed not to, directly or indirectly, sell common shares of NevGold through open market transactions for a period of 18 months subject to certain customary exceptions. GoldMining holds, and has control and direction over, 19,073,350 common shares, representing approximately 16.7% of the Company's outstanding common shares.

NevGold CEO, Brandon Bonifacio, comments: "We are pleased to execute this Standstill Agreement with GoldMining, which prohibits selling, transferring or disposing NevGold shares for a period of 18 months through open market transactions. The Company will have an extremely active end to 2025, and we will have more updates out shortly from our Limousine Butte (oxide gold-antimony), Nutmeg Mountain (oxide gold), and Zeus (copper) projects."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Cartier Launches Ambitious 100,000-m Drill Program on Cadillac

Cartier Launches Ambitious 100,000-m Drill Program on Cadillac

Cartier Resources Inc. (″ Cartier ″ or the ″ Company ″) (TSXV: ECR,OTC:ECRFF; FSE:6CA) is pleased to announce it has started the fully funded 100,000-metre diamond drilling program on its 100%-owned Cadillac Project in Quebec. Strategically located in the heart of the prolific Val-d'Or gold belt, the project benefits from exceptional proximity to mining and milling infrastructure and qualified workforce.

" This is the most extensive drilling program ever undertaken on Cadillac and a turning point for Cartier. Our objective is clear: to prove Cadillac's scale as a major gold camp. With this campaign now underway, we are confident the results will highlight the project's potential to deliver meaningful value for our shareholders ." – Philippe Cloutier, President and CEO of Cartier.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
1911 Gold Commences PEA on True North Project and Provides Update on Underground Progress

1911 Gold Commences PEA on True North Project and Provides Update on Underground Progress

1911 Gold Corporation (" 1911 Gold " or the " Company ") (TSXV: AUMB,OTC:AUMBF) (OTCQB: AUMBF) (FRA: 2KY) is pleased to announce that it has engaged AMC Consultants ("AMC") of Toronto, Canada to complete a Preliminary Economic Assessment ("PEA") study on the Company's wholly-owned True North Gold Project, located in Manitoba .

The PEA will evaluate the potential restart of underground mining operations at the True North mine, utilizing the existing permitted 1,300 tonne-per-day processing facility in Bissett . AMC will assess development and mining method scenarios based on the Company's current mineral resource estimate and extensive underground infrastructure, while referencing the Company's own internally developed mine plans. While the PEA will not incorporate results from recent and planned drilling, management believes that continued exploration success may provide significant upside beyond the scope of this assessment.

"Initiating a PEA with AMC is a critical milestone as we advance the True North Mine toward a restart," stated Shaun Heinrichs , President and CEO of 1911 Gold. "We intend to use the results of the PEA, together with delineation drilling to be completed in the fall on two bulk sample target zones, to finalize plans for a trial production run in mid-2026. This initial trial mining campaign, expected to last 3 - 5 months, will provide an important step toward demonstrating the planned mining and development methods, as well as confirm the resource and economics."

The Company anticipates delivering the PEA by the first quarter of 2026, which will provide the foundation for redevelopment planning and engagement with key stakeholders.

Underground Status Update

Momentum underground continues to build, with rehabilitation work nearing completion on Level 16 and other supporting levels in preparation for the next phase of drilling. Hancon Mining Ltd. mobilized crews to the site in August to complete critical rehabilitation and infrastructure upgrades required for drill access, with rigs scheduled to arrive in late September.

Further information on the planned drill program will be provided closer to the commencement date, with a total of 30,000 metres planned over the next several quarters. Drilling will include:

  • Exploration drilling focused on expanding the size potential of the recently discovered San Antonio West and San Antonio Southeast zones located adjacent to the historically mined San Antonio zone, within reach of existing underground workings.
  • Delineation drilling on the bulk sample target zones identified for early trial mining.
  • Resource expansion drilling to test extensions of resources scheduled for near-term production upon completion of the PEA.

These programs, together with the planned trial mining campaign, will deliver critical technical data to validate mining methods, inform development decisions, and unlock additional exploration opportunities across the broader True North Gold Project.

About 1911 Gold Corporation

1911 Gold is a junior gold developer with a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba . The Company also owns the True North mine and mill complex at Bissett, Manitoba , providing a fully permitted infrastructure hub to support future development. 1911 Gold believes its land package represents a prime opportunity to build a new mining district centred on the True North complex.

In addition, the Company holds the Apex project near Snow Lake, Manitoba , and the Denton-Keefer project near Timmins, Ontario , and remains focused on advancing organic growth while pursuing accretive acquisition opportunities across North America .

1911 Gold's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

www.1911gold.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking information and statements, collectively ("forward-looking statements"), within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, predictions, projections, forecasts, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about exploration plans and the timing and results thereof, as well as statements relating to the plans and timing for the potential mining operations at the True North Project, including trial mining and the benefits therefrom, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE 1911 Gold Corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2025/28/c2388.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Compelling IP Gold Target Delineated at White Lion Prospect

Compelling IP Gold Target Delineated at White Lion Prospect

Pacgold (PGO:AU) has announced Compelling IP Gold Target Delineated at White Lion Prospect

Download the PDF here.

Heliostar Metals

Heliostar Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×