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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (5226)	5/28/2014 12:16:59 PM
From: Goose94	Read Replies (1) \| Respond to of 202704

Redstar Gold (RGC-V) May 28, '14 has closed its previously announced non-brokered private placement of 55,133,333 units at a price of six cents per unit for gross proceeds of $3.31-million. Proceeds from the placement will be used to advance the Company's Unga gold project in Alaska and for general working capital. A surface work program on Unga is planned for this summer, to be followed by a drilling program later this year, and into 2015. The Company is pleased to report that institutional participation in the private placement was very strong, representing 89% of this capital raise. Investment firms from the United States, Britain and Switzerland have become new Redstar shareholders. Geologic Resource Partners LLC a leading mining investment fund based in Boston acquired 28,333,333 units representing approximately 15.7% of the Company's issued and outstanding shares following the closing of the placement. Also participating in the placement were three (3) highly respected European fund managers. Redstar believes that the high quality of this institutional investor group participating in this financing is further testimony of the potential of Redstar's mineral assets. Additionally, Redstar's Chairman, Jacques Vaillancourt through wholly owned Mount Everest Finance SA, participated in the financing purchasing 2.5 million units and separately purchased 1.9 million shares in the open market thereby increasing his holdings by 4.4 million shares to 25.4 million shares. Each unit consists of one common share and two transferable 1/2 common share purchase warrants (Warrant A & Warrant B). Each whole (1) Warrant A can be exercised into one (1) common share of Redstar at a price of $0.09 per share for a period of 12 months from the closing. Each whole (1) Warrant B can be exercised into one (1) common share of Redstar at a price of $0.12 per share for a period of 30 months from the closing. If 18 months after closing Redstar common shares trade at a 33.3% premium to the warrant exercise price (i.e. $0.16) for 10 consecutive trading days then the Company can force warrant holders to exercise their Warrant B into Redstar shares. All securities issued under the placement are subject to restrictions on resale to September 28, 2014. The Company has paid finders' fees in the amount of $64,080 to finders who introduced subscribers to the placement, pursuant to the policies of the TSX.V.