Heliostar Metals Announces $2 Million Non-Brokered Private Placement
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 236 429 9306
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG
Not for Dissemination in the United States or to U.S. Newswire Services
Heliostar Metals Announces $2 Million Non-Brokered
Private Placement
Vancouver, Canada, October 4 th, 2021 – Heliostar Metals Limited (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1)
("Heliostar" or the "Company") is pleased to announce the commencement of a non -brokered private
placement of up to 2,857,143 units (the “Units”) at a price of $0.70 per Unit for gross proceeds of up to
$2,000,000 (the “Offering”).
Each Unit will consist of one common share in the Company (each a “Common Share”) and one half of one
common share purchase warrant (each whole warrant a “Warrant”). Each Warrant shall be exercisable for one
Common Share at an exercise price of $1.20 for a period of 24 months following the closing date.
Heliostar may pay finders’ fees in connection with the Offering, and all securities issued in the Offering will be
subject to a statutory Canadian hold period expiring four months and one day after closing and, where applicable,
additional resale restrictions imposed by other selling jurisdictions. Completion of the Offering is subject to a
number of conditions, including receipt of regulatory approvals, if required, and the approval of the TSX Venture
Exchange.
The company intends to use the net proceeds to advance exploration of its projects in Mexico and Alaska, 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.
None of the securities to be issued in the Offering will be or have been registered under the United States
Securities Act of 1933, as amended (the “1933 Act”), and none may be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of the 1933 Act. This press release
shall not constitute an offer to sell or a solicitation of an offer to buy, nor sh all there be any sale of the Shares
offered in the Offering in any state where such offer, solicitation or sale would be unlawful.
About Heliostar Metals Ltd.
Heliostar is a well -financed 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 240 km2 across the two islands. Additional targets on the property include porphyry copper-gold
targets, high sulphidation targets 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.
TSX.V: HSTR
OTCQX: HSTXF
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 236 429 9306
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG
Gold mineralization at the Centennial Zone is located on neighbouring Popof Island within four kilo metres 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
early-stage projects considered prospective for epithermal gold-silver mineralization.
For additional information please contact:
Charles Funk Rob Grey
Chief Executive Officer Investor Relations Manager
Heliostar Metals Limited Heliostar Metals Limited
Email: [email protected] Phone: +1 778 357 1313
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",
"anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditi ons "would",
"may", "could" or "should" occur. Forward -looking statements in this press release include Heliostar’s plan to conduct and complete the
Offering, including the amount and timing of the Offering and its ability to obtain TSX Venture Exchange approval as well as its intended
use of the proceeds raised. 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 fr om those
in the forward-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 sta tements in the event that
management's beliefs, estimates or opinions, or other factors, should change.