DGAP-News: PINESTAR GOLD INC. CLOSES PRIVATE PLACEMENT FOR PROCEEDS OF $1,980,000
(firmenpresse) - EquityStory AG-News: Pinestar Gold Inc. / Key word(s): Corporate
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PINESTAR GOLD INC. CLOSES PRIVATE PLACEMENT FOR PROCEEDS OF $1,980,000
07.04.2011 / 18:50
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Vancouver, B.C. - Pinestar Gold Inc. (TSX-V: PNS, Frankfurt: 3PI) (the
'Company') is pleased to announce that it has closed its non-brokered
private placement financing (the 'Private Placement') of units (the
'Units'), pursuant to which the Company has issued an aggregate of
8,608,695 Units at a price of $0.23 cents per Unit, to raise total gross
proceeds to the Company of $1,980,000. The Private Placement was
originally announced in the Company's news releases dated March 10, 2011,
March 14, 2011 and March 23, 2011.
Each Unit is comprised of one common share of the Company (a 'Share') and
one-half of one common share purchase warrant (each whole warrant a
'Warrant'). Each whole Warrant is exercisable by the holder thereof to
purchase an additional Share at an exercise price of $0.33 per Share until
October 5, 2012.
Finders' fees are payable in respect of the Private Placement to parties at
arm's length to the Company, consisting of an aggregate cash finders' fees
of $135,379.98 and finders' warrants exercisable by the holders thereof to
purchase an aggregate of 588,607 Shares at an exercise price of $0.23 cents
per Share until October 5, 2012.
The net proceeds from the Private Placement will be used to fund the
exploration and development of the Company's Becker property, located in
Chile, and for general corporate purposes.
All securities issued in connection with the Private Placement are subject
to a four month hold period in accordance with applicable Canadian
securities laws which will expire on August 6, 2011.
The securities issued in the Private Placement have not been and will not
be registered under the U.S. Securities Act, as amended, or any state
securities laws, and may not be offered or sold in the United States absent
registration or an applicable exemption from such registration
requirements. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy the securities in the United States or
in any jurisdiction in which such offer, sale or solicitation would be
unlawful.
For further information please contact: Jeremy Ford, President and Chief
Executive Officer at +1 (604) 647-4487 or jford(at)telus.net
ON BEHALF OF THE BOARD
PINESTAR GOLD INC.
'Jeremy Ford'
President, Chief Executive Officer and Director
Suite 818-602 West Hastings Street Vancouver, BC, Canada V6B 1P2
Office: +1 604-647-4487
www.pinestargold.com
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.
End of Corporate News
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07.04.2011 News transmitted by EquityStory AG.
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118993 07.04.2011
Datum: 07.04.2011 - 18:50 Uhr
Sprache: Deutsch
News-ID 33731
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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