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

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Heliostar Metals (TSXV:HSTR)

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

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.

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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

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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.

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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.

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Heliostar Delivers Strong First Quarter 2025 Results

Heliostar Delivers Strong First Quarter 2025 Results

Q1 2025 Operational and Financial Highlights

  • Gold equivalent ounce ("GEO") production of 9,082 GEOs and sales of 8,034 GEOs for Q1 2025. The Company is on track to achieve annual sales guidance of 31,000 to 41,000 GEOs for 2025
  • Preliminary interim consolidated cash costs of US$1,175-1,275 per GEOs sold and consolidated all-in sustaining costs ("AISC") of US$1,375-1,475 for Q1 2025. The Company is on track to achieve its annual cash cost guidance range of US$1,800-1,900 per GEOs sold and AISC of US$1,950-2,100 per GEOs sold
  • Average sale price of US$2,875 per ounce of gold for Q1 2025
  • Closing of the quarter with US$27M in cash and no debt

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to report preliminary interim results for the three months ended March 31, 2025 ("Q1 2025"), which corresponds to the fourth quarter of Heliostar's fiscal reporting year 2024-25.

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Lode Gold Completes Final Tranche Financing for Total $1.51 Million

Lode Gold Completes Final Tranche Financing for Total $1.51 Million

Lode Gold Resources Inc. (TSXV: LOD,OTC:LODFF) (OTCQB: LODFF) ("Lode Gold" or the "Company") is pleased to announce that it has completed the third and final tranche of its previously announced non-brokered private placement offering for $1 million. In this final tranche, the Company has raised an additional $326,780 through the issuance of 1,815,446 Units at a price of $0.18 per Unit. The Company has now raised a total of $1,513,768 through the issuance of 8,409,825 Units.

Each $0.18 unit consists of one common share and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share at an exercise price of $0.35 per common share for a period of three years following the date of closing.

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Quimbaya Gold Starts Drilling at Tahami South, Testing Undrilled Gold System Beside Aris' Segovia Mine

Quimbaya Gold Starts Drilling at Tahami South, Testing Undrilled Gold System Beside Aris' Segovia Mine

The 4,000m drilling campaign aims to unlock district-scale potential by testing a possible extension of Aris' producing vein system in Colombia's premier high-grade gold corridor

Quimbaya Gold Inc. (CSE: QIM,OTC:QIMGF) (OTCQB: QIMGF) (FSE: K05) ("Quimbaya" or the "Company") is pleased to announce the commencement of its inaugural diamond drill campaign at the 100%-owned Tahami South Project in Antioquia, Colombia. The fully permitted 4,000-meter program marks Quimbaya's transition from surface exploration to drill-testing in one of the country's most prolific gold-producing districts.

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Pinnacle Closes Oversubscribed Non-Brokered Private Placement

Pinnacle Closes Oversubscribed Non-Brokered Private Placement

(TheNewswire)

VANCOUVER, BRITISH COLUMBIA, August 7, 2025 TheNewswire - (TSXV: PINN,OTC:NRGOF, OTC: PSGCF, Frankfurt: P9J) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") is pleased to announce that, further to Company news releases of July 14 and 25, 2025, it has closed its non-brokered private placement to raise gross proceeds of $1,686,608 (the "Offering").  Due to strong investor demand, the Offering was oversubscribed and now consists of 28,110,134 units (the "Units"), with each Unit, priced at $0.06, comprising one common share ("Share") in the capital of the Company and one-half share purchase warrant ("Warrant").  Each whole Warrant shall be convertible into an additional Share at an exercise price of $0.10 for a period of 24 months from the date of issuance.  Finder's fees consisting of $20,622 in cash commission and 343,700 non-transferable finder's warrants were paid in connection with the offering.  Each finder's warrant entitles the holder to acquire one common share at $0.10 cents per share over a 24-month period.

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LaFleur Minerals Provides Swanson Drilling Update, Acquires Key Swanson Claim, and Files Updated NI 43-101 Technical Report

LaFleur Minerals Provides Swanson Drilling Update, Acquires Key Swanson Claim, and Files Updated NI 43-101 Technical Report

LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (OTCQB: LFLRF) (FSE: 3WK0) ("LaFleur Minerals" or the "Company") is pleased to announce that to date, seven (7) diamond drill holes totaling 1,764 metres have been completed at its Swanson Gold Project ("Swanson") since drilling commenced in early July (Figure 1). Three (3) of these holes have been sampled, sawn, and sent to the assay laboratory for analysis, with final results expected in the coming weeks. The Swanson Gold Project is particularly well positioned as it lies in the heart of the Abitibi Greenstone Belt near Val-d'Or, Québec, a globally renowned gold district.

Drilling is currently focused on the northern part of the Swanson Gold Project near the Swanson Gold Deposit, which hosts an Indicated and Inferred Mineral Resource Estimate. These regional exploration holes are testing geological, geophysical, and geochemical targets up to 3 km from the Swanson Gold Deposit and along strike of a major structural break. Visual core logging suggests that several of the completed holes intersected geological features similar to those hosting known mineralization at the Swanson Gold Deposit.

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Sranan Gold Trenching Encounters 36.7 Grams/Tonne Gold over 5 Metres, 150 Metres South of Randy's Pit at the Tapanahony Project in Suriname

Sranan Gold Trenching Encounters 36.7 Grams/Tonne Gold over 5 Metres, 150 Metres South of Randy's Pit at the Tapanahony Project in Suriname

Sranan Gold Corp. (CSE: SRAN) (FSE: P84) (Tradegate: P84) ("Sranan" or the "Company") announces three channel samples with an apparent width of 5 metres that averaged 36.7 gramstonne (gt) gold were sampled in trench 25RACH-001, the first trench of an ongoing trenching program at the Tapanahony Project in Suriname.

This initial trench is located 150 metres south of Randy's Pit, which is the largest artisanal mine within the Tapanahony Project. The previously announced high-grade grab samples from underground workings within Randy's Pit (76.6 g/t and 23.7 g/t gold - see news release dated July 31, 2025) are located approximately 350 metres to the north.

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1911 Gold Intersects 5.52 g/t Au over 6.50 m and 54.00 g/t Au over 0.50 m on SAM Southeast Zone at True North

1911 Gold Intersects 5.52 g/t Au over 6.50 m and 54.00 g/t Au over 0.50 m on SAM Southeast Zone at True North

1911 Gold Corporation (" 1911 Gold " or the " Company ") (TSXV: AUMB,OTC:AUMBF) (OTCBB: AUMBF) (FRA: 2KY) is pleased to announce the assay results from ten (10) drill holes for 3,079.0 metres ("m") from the ongoing surface drill program at the True North Project. The True North project, including a permitted mill, camp, and tailings facility, is centrally located within the Company's 100%-owned Rice Lake Gold property in southeast Manitoba, Canada .

Highlights:

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