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  • Baden Resources (BDN) has closed the first tranche of a private placement of Northstar Gaming subscription receipts for gross proceeds of $4,020,000
  • NorthStar has closed the first tranche of its offering, issuing 8,040,000 subscription receipts at a price of $0.50 per receipt
  • Torstar Corporation completed a subscription for a further 50,000 preferred shares in NorthStar for gross proceeds of $5,000,000
  • The net proceeds from the offering will be used for marketing and other costs to develop the business of NorthStar
  • Canada-based NorthStar Gaming owns and operates NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform
  • Baden Resources Inc. (BDN) opened trading at C$0.20

Baden Resources (BDN) has closed the first tranche of a private placement of Northstar Gaming subscription receipts for gross proceeds of $4,020,000.

Following the previous announcement regarding a business combination agreement with Northstar Gaming, NorthStar has closed the first tranche of its offering, issuing 8,040,000 subscription receipts at a price of $0.50 per receipt for gross proceeds of $4,020,000.

Concurrently with the first closing, Torstar Corporation completed a subscription for a further 50,000 preferred shares in NorthStar for gross proceeds of $5,000,000.

The offering is expected to close in September.

The offering was led by Canaccord Genuity Corp. and Paradigm Capital Inc. as co-lead agents,  along with Eight Capital Inc., Cormark Securities Inc. and Echelon Capital Markets.

The agents received a cash commission of $241,200 and broker warrants.

The net proceeds from the offering will be used for marketing and other costs of developing the business of NorthStar.

Canada-based NorthStar Gaming owns and operates NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform. The NorthStar Bets sportsbook provides real-time news, stats, analysis and scores along with the most popular online casino games.

Baden Resources Inc. (BDN) opened trading at C$0.20.


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