TriStar Gold Announces Non-Brokered Private Placement of up to Cdn $3.0 Million
TriStar Gold Announces Non-Brokered Private
Placement of up to Cdn $3.0 Million
Scottsdale, Arizona--(Newsfile Corp. - August 2, 2023) - TriStar Gold Inc. (TSXV: TSG) (OTCQX:
TSGZF) ("TriStar" or the "Company") is pleased to announce it intends to complete a non-brokered
private placement to raise maximum gross proceeds of Cdn $3.0 million. The Company currently has
indications from Auramet Capital Partners, other existing shareholders and certain members of senior
management, that they intend to participate subject to the rules of the TSX Venture Exchange.
The offering will consist of the issuance of up to 23,076,923 units, which will each be comprised of one
common share of the Company and one-half share purchase warrant. Each unit will be priced at Cdn
$0.13 and each full warrant will be exercisable for one common share of the Company at an exercise
price of Cdn $0.20 per share and a three-year term-to-maturity.
The Company intends to use the proceeds of the offering to advance the permitting of the Company's
100% owned Castelo de Sonhos property and for general working capital purposes.
This private placement is planned to close on or about
August 21, 2023
, subject to all regulatory
approvals being received, including the approval of the TSX Venture Exchange. All securities issued in
the private placement will be subject to a hold period pursuant to applicable Canadian securities laws
ending four months and one day after issuance.
About TriStar:
TriStar Gold is an exploration and development company focused on precious metals properties in the
Americas that have potential to become significant producing mines. The Company's current flagship
property is Castelo de Sonhos in Pará State, Brazil. The Company's shares are listed on the TSX
Venture Exchange under the symbol TSG and on the OTCQX under the symbol TSGZF. Further
information is available at
www.tristargold.com
.
On behalf of The Board of Directors of TriStar Gold Inc.
Nick Appleyard
President and CEO
For further information, please contact:
TriStar Gold Inc.
Nick Appleyard
President and CEO
480-794-1244
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. No stock exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.
Forward-Looking Statements
Certain statements contained in this press release may constitute forward-looking statements under
Canadian securities legislation which are not historical facts and are made pursuant to the "safe
harbour" provisions under the United States Private Securities Litigation Reform Act of 1995.
Generally, forward-looking information can be identified by the use of forward-looking terminology
such as "expects" or "it is expected", or variations of such words and phrases or statements that
certain actions, events or results "will" occur. Forward looking statements in this press release include,
the statements regarding the planned completion of the private placement and use of proceeds from
the private placement. Such forward-looking statements are based upon the Company's reasonable
expectations and business plan at the date hereof, which are subject to change depending on
economic, political and competitive circumstances and contingencies. Readers are cautioned that
such forward-looking statements involve known and unknown risks, uncertainties and other factors that
may cause a change in such assumptions and the actual outcomes and estimates to be materially
different from those estimated or anticipated future results, achievements or position expressed or
implied by those forward-looking statements. Risks, uncertainties and other factors that could cause
the Company's plans to change include risks related to regulatory approval; changes in demand for
and price of gold and other commodities (such as fuel and electricity) and currencies; changes or
disruptions in the securities markets; legislative, political or economic developments in Brazil; the
need to obtain permits and comply with laws and regulations and other regulatory requirements; the
possibility that actual results of work may differ from projections/expectations or may not realize the
perceived potential of the Company's projects; risks of accidents, equipment breakdowns and labour
disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or
unanticipated expenses in development programs; operating or technical difficulties in connection
with exploration, mining or development activities; the speculative nature of gold exploration and
development, including the risks of diminishing quantities of grades of reserves and resources; and
the risks involved in the exploration, development and mining business. Although management of the
Company has attempted to identify important factors that could cause actual results to differ materially
from those contained in forward-looking statements or forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any
intention or obligation to update or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/175794