Estrella Gold Increases Private Placement to $600,000
14 May 2014 - 5:29AM
Marketwired
Estrella Gold Increases Private Placement to $600,000
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 13, 2014) -
Estrella Gold Corporation (TSX-VENTURE:EST) ("Estrella" or the
"Company") is pleased to announce that the non-brokered private
placement offering announced on April 29, 2014 and May 7, 2014 has
been over-subscribed. Estrella has increased the offering from
$500,000 to $600,000 or 12,000,000 units and the offering is fully
subscribed.
Certain strategic shareholders decided to increase their
positions significantly and this has oversubscribed the financing.
All of these shareholders have been long term investors in Estrella
and supporters of the prospect generator model which Estrella
follows.
Estrella will use the proceeds on several strategic fronts which
include:
(i) continuing Joint Venture negotiations
on current projects; |
(ii) new project generation; |
(iii) adding value to current projects;
and |
(iv) for working capital and general
corporate purposes. |
Each Unit is comprised of one common share and one
non-transferable warrant (each a "Warrant"). Each Warrant entitles
the holder to purchase one common share at an exercise price of
$0.10 per share for three years following the date of the closing.
The money from the Offering is in and the Offering will close upon
receiving the TSX Venture Exchange final acceptance.
The securities issued pursuant to the Offering will all be
subject to a 4 month regulatory hold period commencing from the
date of closing.
About Estrella Gold Corporation (TSX-VENTURE:EST)
Mineral exploration is inherently risky and Estrella increases
the chances of success as a "Prospect Generator" focused on gold
exploration in Latin America. Estrella identifies and acquires new
mineral properties, conducts initial, low-cost exploration to
define new targets and then seeks joint ventures with other
companies to fund more advanced exploration. Estrella has two
properties optioned out or held in joint venture agreements. The
Company is listed on the TSX Venture Exchange (TSX-VENTURE:EST).
Mr. John Wilson, BSc, MS, is a Qualified Person for the purposes of
National Instrument 43-101 Standards of Disclosure for Mineral
Projects of the Canadian Securities Administrators, and has
reviewed and verified the technical information contained in this
news release.
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. STATEMENTS IN THIS NEWS RELEASE, OTHER
THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING
TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS,
MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS
ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE
RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND
DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM
THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.
Estrella Gold CorporationJason WeberPresident and CEO(604)
687-3520Estrella Gold CorporationSandrine LamShareholder
Communications(604) 687-3520(888) 889-4874www.estrellagold.com
(TSXV:EST)
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