Blue Star Gold Announces Closing of First Tranche of Non-Brokered Private Placement of Flow Through Shares and Proposed Non- Brokered Private Placement of Non-Flow Through Shares
Blue Star Gold Announces Closing of First
Tranche of Non-Brokered Private Placement of
Flow Through Shares and Proposed Non-
Brokered Private Placement of Non-Flow
Through Shares
Vancouver, British Columbia--(Newsfile Corp. - November 17, 2021) -
Blue Star Gold Corp. (TSXV:
BAU) (FSE: 5WP0) (OTCQB: BAUFF) ("Blue Star"
or the
"Company")
announces that, further to its
news release of November 4, 2021 and subject to the final approval of the TSX Venture Exchange (the
"
Exchange
"), it has closed the first tranche of its non-brokered flow-through private placement (the
"
Private Placement
") by issuing 1,944,445 flow-through common shares ("
FT Shares
") at a price of
$0.72 raising total gross proceeds of $1,400,000.
The Company paid finder's fees of $84,000 and
20,833 common shares ("
Finder's Shares
") at a price of $0.72 to Glores Securities and Qwest
Investment Fund Management.
The FT Shares and Finder's Shares will be subject to a four-month hold period pursuant to securities
laws in Canada and, where applicable, the Exchange. The Company intends to use the net proceeds
from the Private Placement for exploration and development of the Company's projects in Nunavut.
The Company also announces that, subject to Exchange approval, it proposes to complete a non-
brokered private placement of non-flow through common shares (the "
Shares
") at a price of $0.68 per
Share to raise up to $1,000,000 in gross proceeds. The Shares will be subject to a four-month hold
period pursuant to securities laws in Canada and the Exchange hold period. Finders' fees may be
payable to qualified parties. The Company intends to use the net proceeds from the private placement
for exploration of the Company's projects in Nunavut and for general working capital.
About Blue Star Gold Corp.
Blue Star is a gold and silver company focused on exploration and development within Nunavut, Canada.
The Company owns the
Ulu Gold Property
lease, an advanced gold and silver project, and the highly
prospective
Hood River Property
that is contiguous to the Ulu mining lease. With the recent acquisition
of the
Roma Project
, Blue Star now controls over 16,000 hectares of highly prospective and
underexplored mineral properties in the High Lake Greenstone Belt, Nunavut. A significant high-grade
gold resource exists at the Flood Zone deposit (Ulu lease), and numerous high-grade gold occurrences
and priority targets occur throughout the Ulu, Hood River and Roma Projects.
Blue Star is listed on the TSX Venture Exchange under the symbol: BAU, the Frankfurt Exchange under
the symbol: 5WP0, and the OTCQB under the symbol: BAUFF. For information on the Company and its
projects, please visit our website:
www.bluestargold.ca
.
For further information, please contact:
Grant Ewing, P. Geo., CEO
Telephone: +1 778-379-1433
Email:
Neither the 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.
The securities referred to in this news release have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and may not be offered or sold within the
United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an
applicable exemption from the U.S. registration requirements.
This news release does not constitute an offer for sale of securities for sale, nor a solicitation
for offers to buy any securities. Any public offering of securities in the United States must be
made by means of a prospectus containing detailed information about the company and
management, as well as financial statements.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES
DESCRIBED HEREIN
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/104005