Northstar Gold Corp. (CSE:NSG) told investors it has closed the first tranche of its previously announced non-brokered private placement of units.
The company said the first tranche consisted of 3,990,000 units priced at C$0.055 each for a total of C$219,450, exceeding first tranche expectations of C$200,000 announced on August 15, 2023. It said it has since received additional orders to close a second tranche in the near term.
Each unit is comprised of one common share and one share purchase warrant, exercisable into an additional share for C$0.075 for a period of 24 months.