Certain strategic shareholders decided to increase their positions significantly and this has oversubscribed the financing. All of these shareholders have been long term investors in Estrella and supporters of the prospect generator model which Estrella follows.
Estrella will use the proceeds on several strategic fronts which include:
(i) continuing Joint Venture negotiations on current projects; (ii) new project generation; (iii) adding value to current projects; and (iv) for working capital and general corporate purposes.
Each Unit is comprised of one common share and one non-transferable warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one common share at an exercise price of
The securities issued pursuant to the Offering will all be subject to a 4 month regulatory hold period commencing from the date of closing.
Mineral exploration is inherently risky and Estrella increases the chances of success as a "Prospect Generator" focused on gold exploration in
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. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.
FOR FURTHER INFORMATION PLEASE CONTACT:
Estrella Gold Corporation Jason WeberPresident and CEO (604) 687-3520 Estrella Gold Corporation Sandrine Lam Shareholder Communications(604) 687-3520 (888) 889-4874 (FAX) www.estrellagold.com Source: Estrella Gold Corporation