Heliostar Metals Closes Successful Bought Deal Equity Financing for $19.5 Million
Vancouver, British Columbia – Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) (“Heliostar” or the “Company”), a mineral exploration company, is thrilled to announce the successful completion of its previously announced bought deal equity financing. The financing, which included the partial exercise of the underwriters’ option, raised a total of $19,500,000 in gross proceeds.
Details of the Financing
Under the terms of the offering, Heliostar issued a total of 25,545,000 units (“Units”) at a price of $0.765 per Unit. Each Unit consisted of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $1.00 for a period of three years from the closing date.
Use of Proceeds
The net proceeds from the offering will be used by Heliostar for exploration and development activities on its projects, working capital and general corporate purposes.
Impact on Heliostar Metals
The successful closing of this financing represents a significant milestone for Heliostar Metals. With the increased capital, the Company will be able to accelerate its exploration and development activities, potentially leading to new discoveries and increased shareholder value.
Impact on the World
The mining industry plays a crucial role in the global economy, providing essential resources for various industries. Heliostar Metals’ successful financing is a positive sign for the sector, indicating investor confidence in the potential for mineral discoveries and the long-term value of mining companies.
Conclusion
Heliostar Metals’ successful completion of its bought deal equity financing is an exciting development for the Company and the mining industry as a whole. With the increased capital, Heliostar will be able to advance its exploration and development activities, potentially leading to new discoveries and increased shareholder value. This positive news is a welcome sign for the mining sector, indicating investor confidence in the sector’s potential for growth and the long-term value of mining companies.
- Heliostar Metals completes bought deal equity financing, raising $19.5 million
- Proceeds to be used for exploration and development activities, working capital, and general corporate purposes
- Positive sign for the mining industry, indicating investor confidence in the sector’s potential for growth
