Vancouver, British Columbia– at a price of $0.70 per FT Share and Share raising total gross proceeds of $2,739,627.
The Shares and FT Shares will be subject to a four-month hold period pursuant to securities laws in Canada and, where applicable, the Exchange.
Blue Star has now mobilized its 2021 exploration program and plans to test numerous priority targets on its Ulu and Hood River properties.
Blue Star’s CEO, Grant Ewing, commented, “The current financing and restructuring is anticipated to be complete within the next 30 days, and following this Blue Star will be in the best shape in the Company’s history.
The Company also announces that it has completed a share consolidation Shares held which will result in the Company having approximately 29,603,172 Shares issued and outstanding prior to the closing of the first tranche of the Private Placement.
The Company relied upon the “Fair Market Value Not More Than $2,500,000” exemption from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101.
The Company owns the Ulu Gold Property lease, an advanced gold and silver project, and the highly prospective Hood River Property that is contiguous to the Ulu mining lease.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S.
This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.