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  • 5,348,616 units were offered at a price of $1.05 for gross proceeds of $5,616,047
  • Each unit consists of one common share and one half of one common share purchase warrant
  • The offering was made pursuant to an agreement with Canaccord Genuity Corp., as lead agent on behalf of a syndicate of agents
  • The company has paid an aggregate cash commission equal to six percent of the proceeds and 310,921 non-transferable broker warrants to the agents
  • Heliostar is a junior exploration and development company with a portfolio of high-grade gold projects in Alaska and Mexico
  • Heliostar Metals Limited (HSTR) opened trading at C$1.12 per share

Heliostar Metals Limited (HSTR) has closed its marketed private placement offering.

5,348,616 units were offered at a price of $1.05 for gross proceeds of $5,616,047.

Each unit consists of one common share and one half of one common share purchase warrant. Each warrant is exercisable for one common share at a price of $1.70 for a period of 12 months following the closing date.

The offering was made pursuant to an agreement with Canaccord Genuity Corp., as lead agent, on behalf of a syndicate of agents including Sprott Capital Partners LP. Haywood Securities Inc. and Agentis Capital.

The warrants may be accelerated by Heliostar at any time after the closing date of the offering provided that the closing price of the common shares of the company on the TSX Venture Exchange exceeds $2.00 for a period of 15 consecutive trading days at any time after the date that is four months and one day following closing, by giving notice to the holders. In this case, the warrants will expire at 4:00 pm (Toronto time) on the earlier of: (i) the 30th day after the date on which notice is provided, or (ii) the date that is 12 months following the closing date.

The company has paid an aggregate cash commission equal to six percent of the proceeds to the agents and issued an aggregate of 310,921 non-transferable broker warrants, being equal to six percent of the number of units sold in the offering.

Each broker warrant entitles the holder to purchase one share for a price of $1.05 for 12 months following the closing date.

All of the securities issued in the Offering are subject to a four-month and one-day restricted resale period expiring September 5, 2021.

Proceeds from the offering will be used to advance the company’s Alaskan and Mexican projects, as well as for working capital and general corporate purposes.

Heliostar is a junior exploration and development company with a portfolio of high-grade gold projects in Alaska and Mexico.

Heliostar Metals Limited (HSTR) opened trading at C$1.12 per share.

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