- The company will increase its offering from 2,857,143 units to 5,714,285 units for gross proceeds of up to $4,000,000
- Each unit will consist of one common share and one half of one common share purchase warrant
- Net proceeds will be used to advance exploration of the company’s projects in Mexico and Alaska
- Heliostar is an exploration and development company
- Heliostar Metals Ltd. (HSTR) opened trading at C$0.79 per share
Heliostar Metals (HSTR) will increase its offering from 2,857,143 units to 5,714,285 units for gross proceeds of up to $4,000,000.
Each unit will consist of one common share and one half of one common share purchase warrant. Each warrant may be exercised for one common share at a price of $1.20 for a period of 24 months following the closing date of the offering.
Heliostar may pay finders’ fees in connection with the offering, and all securities issued will be subject to a statutory hold period.
Completion of the offering is subject to a number of conditions, including receipt of regulatory approvals and the approval of the TSX Venture Exchange.
Net proceeds will be used to advance exploration of the company’s projects, as well as for working capital and general corporate purposes.
The company intends to initially focus on undertaking a maiden drill program at its new Verde discovery at the Cumaro project in Mexico.
Heliostar is an exploration and development company with a portfolio of high-grade gold projects in Alaska and Mexico.
Heliostar Metals Ltd. (HSTR) opened trading at C$0.79 per share.
