Redstar Announces Non-Brokered Private Placement
May 09 2014 - 1:18PM
Access Wire
Vancouver, BC / ACCESSWIRE /
May 9, 2014 / Redstar Gold Corp (TSX.V:RGC) ("Redstar" or
the "Company") announces it has arranged a non-brokered private
placement of up to 55,133,333 units at a price of $0.06 per unit to
raise gross proceeds of $3.31 million. Each unit consists of one
common share and two transferable 1/2 common share purchase
warrants (Warrant A & Warrant B). Each whole (1) Warrant A can
be exercised into one (1) common share of Redstar at a price of
$0.09 per share for a period of 12 months from the
closing. Each whole (1) Warrant B can be exercised into one (1)
common share of Redstar at a price of $0.12 per share
for a period of 30 months from the closing. If 18 months after
closing Redstar common shares trade at a 33.3% premium to the
warrant exercise price (i.e. $0.16) for 10 consecutive trading days
then the Company can force warrant holders to exercise their
Warrant B into Redstar shares
The Company has agreed to pay
finders' fees equal to 6%, payable in cash, to finders who have
introduced subscribers to the placement.
Proceeds from the placement will be
used to advance the Company's Unga gold project in Alaska and for
general working capital.
Closing of the private placement is
subject to the approval of the TSX Venture Exchange.
On Behalf of the Board,
Redstar Gold
Corp.
"Ken
Booth"
Ken Booth
President and CEO
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|TSX.V:RGC |CORPORATE INQUIRIES |
|WWW.REDSTARGOLD.COM |Redstar Gold Corp. |
|SUITE 615 |Tim Mikula, Business Development |
|800 WEST PENDER STREET|Tel: 604.488.0051 |
|VANCOUVER, BC | tmikula@redstargold.com|
|TEL: 604.488.0051 | |
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Forward-Looking Information This
release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address events or
developments that Redstar Gold Corporation (the "Company") expects
to occur, are forward-looking statements. Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects",
"plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or
conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those in the forward-looking
statements. Factors that could cause the actual results to differ
materially from those in forward-looking statements include market
prices, exploitation and exploration successes, and continued
availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made. Except as required
by applicable securities laws, the Company undertakes no obligation
to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors,
should change.
SOURCE: Redstar Gold Corp
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