MONTRÉAL, QUÉBEC--(Marketwired - April 16, 2014) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES
Goldstar Minerals Inc. ("Goldstar" or "the Company") (TSX VENTURE:GDM) announces that it has closed its brokered private placement financing with Industrial Alliance Securities Inc. (the "Agent") consisting of 600,000 common shares (the "Common Shares') at a price of $0.10 per share for aggregate proceeds of $60,000. Each Common Share includes one full warrant entitling the holder to subsequently acquire a Common Share at the price of $0.15, exercisable until April 16, 2016.
As consideration to the Agent, the Company has paid a cash commission of $5,100, an amount equal to 8.5% of the gross proceeds raised in the private placement, and has issued 30,000 compensation options entitling the Agent to acquire a Common Share of the Company at a price of $0.10 until April 16, 2016. All securities issued pursuant to the Private placement will be subject to a statutory hold period which expires on August 17, 2014.
The Company will use the net proceeds of the private placement for general corporate purposes.
About Goldstar Minerals Inc.
Goldstar Minerals is focused on developing high-value tungsten and related metals deposits in leading mining jurisdictions in Canada. Goldstar Minerals has two properties located in Québec - Julien and Brockaby -, and one in New Brunswick - Lake George property -, all with year-round access. The Company is led by a talented team with expertise and major company experience in resource exploration and development and a clear understanding of the mining business.
On behalf of the Board of Directors of GOLDSTAR MINERALS INC.
Benoit Moreau, Chief Executive Officer
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.
This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.