Northstar Gold Corp (CSE:NSG) (OTCPINK:NSGCF) (FRA:3WV) announced it is raising up to C$2.5 million to advance its gold properties in Ontario.
The Canaccord Genuity-led offering includes up to four million flow-through units priced at C$0.31 per unit for gross proceeds of up to $1.25 million, and an additional batch of up to 4.5 million non-flow-through units priced at $0.28.
Both the flow-through and regular units are comprised of one share and one-half of one warrant exercisable at $0.42 for a 24-month period following the closing of the offering.
READ: Northstar Gold consolidates its ground at Miller gold property with Searles acquisition
The offering will be made available for existing shareholders of Northstar as of July 6, 2021, pursuant to a shareholder exemption limiting a shareholder to a maximum investment of $15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction.
Northstar said that proceeds from the offering will fund exploration at the Miller Gold Property and recently acquired Searles Property, situated 18km southeast of Kirkland Lake, Ontario, and the company's Bryce Gold Property, situated 35 km to the southwest.
Shares of Northstar closed at C$0.27 on Tuesday afternoon in Canada.
Contact Angela at angela@proactinvestors.com
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