Heliostar Announces $3 Million Non-Brokered Private Placement
LEGAL*52807493.1
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 236 429 9306
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
Heliostar Announces $3 Million Non-Brokered Private
Placement
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS
Vancouver, Canada, June 23rd, 2022 – Heliostar Metals Limited (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG 1)
("Heliostar" or the "Company") is pleased to announce a non-brokered private placement of up to 12,000,000
units (the “Units”) at a price of $0.25 per Unit for gross proceeds of approximately $3,000,000 (the “Offering”).
Each Unit will consist of one common share in the capital of the Company (each a “Common Share”) and one
common share purchase warrant (a “Warrant”). Each Warrant shall initially entitle the holder to purchase one
additional Common Share at an exercise price of $0.50 per Common Share until the date (the “Transition Date”)
that is six months following the Closing Date. On the Transition Date, each outstanding Warrant shall
automatically (without any need for notice or action) convert into a half -warrant (each, a “Half-Warrant”) and
thereafter the holder will only be entitled to purchase one Common Share upon the exercise of two Half -
Warrants at an aggregate exercise price of $0.75 per Common Share. The Half -Warrants will expire eighteen
months after the Transition Date.
The Company intends to use the net proceeds from the Offering to advance the Company’s Alaskan and Mexican
projects, as well as for working capital and general corporate purposes. The company anticipates commencing
drilling at the Centennial prospect at Unga in late July, 2022.
The Offering is scheduled to close on or about the 29th of July and is subject to certain conditions including, but
not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the
securities regulatory authorities.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United
States or to U.S. Persons (as that term is defined in Rule 902(k) of Regulation S ), nor shall this press release be
construed to constitute such an offer or solicitation in any jurisdiction in which such offer, solicitation or sale
would be unlawful. The securities being offered have not been, nor will they be, registered under the United
States Securities Act of 1933, as amended (the "1933 Act") or under any U.S. state securities laws, and may not
be offered or sold in the United States absent registration or an applicable exemption from the registration
requirements of the 1933 Act, as amended, and applicable state securities laws.
About Heliostar Metals Ltd.
Heliostar is a junior exploration and development company with a portfolio of high-grade gold projects in Alaska
and Mexico. The company’s flagship asset is the 100% controlled Unga Gold Project on Unga and Popof Islands
in Alaska. The project hosts an intermediate sulfidation epithermal gold deposit, located within the district-scale
property that encompasses 240km2 across the two islands. Additional targets on the property include porphyry,
high sulphidation and intermediate sulphidation epithermal veins. On Unga Island, priority targets include: the
SH-1 and Aquila, both on the Shumagin Trend, the former Apollo -Sitka mine, which was Alaska’s first
underground gold mine and the Zachary Bay porphyry gold -copper prospect. Gold mineralization at the
TSX.V: HSTR
OTCQX: HSTXF
LEGAL*52807493.1
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 236 429 9306
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
Centennial Zone is located on neighbouring Popof Island within four kilometres of infrastructure and services at
Sand Point.
In Mexico, the company owns 100% of three early stage epithermal projects in Sonora that are highly prospective
for gold and silver. Cumaro forms part of the El Picacho district, while the Oso Negro and La Lola projects are
also prospective for epithermal gold-silver mineralization.
For additional information please contact:
Charles Funk
Chief Executive Officer
Heliostar Metals Limited
Email: [email protected]
Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: [email protected]
Neither 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.
Forward-Looking Information. This release includes certain statements that may be deemed "forward -looking
statements". Forward-looking statements are statements that are not historical facts and are generally, but not
always, identified by the words "expects", "plans", "ant icipates", "believes", "intends", "estimates", "projects",
"potential" and similar expressions, or that events or conditions "would", "may", "could" or "should" occur.
Forward-looking statements in this press release include Heliostar’s plans to conduct and complete the Offering
and the timing thereof , and the projected use of proceeds . Although Heliostar believes that the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a
guarantee of future performance and actual results may differ materially from those in the forw ard-looking
statements. Factors that could cause the actual results to differ materially from those in forward -looking
statements include market prices, exploitation and exploration successes, weather, continued availability of
capital and financing, and general economic, market or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual results or developments may differ materially
from those projected in the forward -looking statements. Forward-looking statements are based on the beliefs,
estimates and opinions of the Company's management on the date the statements are made. Except as required
by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements
in the event that management's beliefs, estimates or opinions, or other factors, should change.