Blue Star Gold Announces Closing of Non- Brokered Private Placement
Blue Star Gold Announces Closing of Non-
Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - November 24, 2022) -
Blue Star Gold Corp. (TSXV:
BAU) (OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star"
or the
"Company")
announces that, subject to
the final approval of the TSX Venture Exchange (the "
Exchange
"), it has closed its non-brokered private
placement (the "
Private Placement
") issuing 4,000,000 common shares (each a "
Share
") at $0.25 per
Share raising gross proceeds of $1,000,000.
The Shares are subject to a four-month and one day hold period expiring on March 25, 2023 pursuant to
securities laws in Canada and, where applicable, the Exchange. The Company intends to use the
proceeds for general exploration and working capital.
No finder's fees were paid in connection with the
Private Placement.
Dr. Georg Pollert, a director and controlling shareholder of the Company, purchased 4,000,000 Shares
pursuant to the Private Placement. As a result, the issuance of these Shares pursuant to the Private
Placement is considered a related party transaction (as defined under Multilateral Instrument 61-101
Protection of Minority Security Holders in Special Transactions ("MI 61-101")). The Company relied upon
the "Fair Market Value Not More Than $2,500,000" exemption from the formal valuation and minority
shareholder approval requirements, respectively, under MI 61-101.
About Blue Star Gold Corp.
Blue Star is a gold company focused on exploration and development within Nunavut, Canada.
Blue
Stars landholdings total approximately 270 square kilometres of highly prospective and underexplored
mineral properties in the High Lake Greenstone Belt, Nunavut.
The Company owns the Ulu Gold Property
lease, an advanced gold project, the highly prospective Hood River Property that is contiguous to the Ulu
mining lease, and the Roma Project.
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.
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.
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https://www.newsfilecorp.com/release/145666