Mountainstar closes private placement for $1.37-million
2012-09-04 23:06 ET - News Release
Mr. Brent Johnson reports
CLOSING OF PRIVATE PLACEMENT
Mountainstar Gold Inc., further to the company's news release of May 23, 2012, has closed a non-brokered private placement composed of 3,269,888 units at a price of 42 cents per unit for gross proceeds of $1,373,350.25.
Each unit is composed of one common share and one non-transferable common share purchase warrant. Each warrant entitles the holder to acquire an additional share at a price of 52 cents per share for a period of two years from the closing date.
The company will pay finders' fees of $45,753 and 108,936 non-transferable finders' warrants. Each finders' warrant entitles the holder to purchase one common share of the company at a price of 52 cents for a period of two years.
Proceeds of this financing will be used for property acquisition and general corporate purposes.
