First Star Financing $1.2-million CLOSESFirst Star closes $300,000 second tranche
2011-06-20 23:50 ET - News Release
Mr. John Campbell reports
FIRST STAR RESOURCES CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT
Further to its news releases dated March 25, 2011, May 12, 2011, and May 27, 2011, First Star Resources Inc. has completed the second and final tranche of its non-brokered private placement of two million units at a price of 15 cents per unit for gross proceeds of $300,000.
Each unit consists of one common share and one non-transferable common share purchase warrant of the company. Each warrant will entitle the holder to acquire one common share of the company at a price of 20 cents per common share until June 20, 2013, subject to the company's right to accelerate the expiry date of the warrants if the average trading price of the common shares of the company on the TSX Venture Exchange is equal to or exceeds 45 cents per common share for a period of 10 days during the term of the warrant.
The common shares and warrants issued pursuant to the private placement and any common shares issued on exercise of the warrants are subject to a four-month resale restriction that expires on Oct. 21, 2011.
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First Star closes first tranche for $901,200
2011-05-27 11:01 ET - News Release
Mr. John Campbell reports
FIRST STAR RESOURCES INC. CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
Further to news releases dated March 25, 2011, and May 12, 2011, First Star Resources Inc. has completed the first tranche of its non-brokered private placement of 6,008,000 units at a price of 15 cents per unit for gross proceeds of $901,200.
Each unit consists of one common share and one non-transferable common share purchase warrant of the company. Each warrant will entitle the holder to acquire one common share of the company at a price of 20 cents per common share until May 27, 2013, subject to the company's right to accelerate the expiry date of the warrants if the average trading price of the common shares of the company on the TSX Venture Exchange is equal to or exceeds 45 cents per common share for a period of 10 days during the term of the warrant.
The company paid cash commissions to finders totalling $39,721.50.
The common shares and warrants issued pursuant to the private placement and any common shares issued on exercise of the warrants are subject to four-month resale restriction that expires on Sept. 28, 2011.
The proceeds raised will be used for general working capital.
We seek Safe Harbor.
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First Star increases financing to $1.2-million
2011-05-12 11:40 ET - News Release
Mr. John Campbell reports
FIRST STAR RESOURCES INC. INCREASES PRIVATE PLACEMENT OFFERING
Further to its news release dated March 25, 2011, First Star Resources Inc. has increased its non-brokered private placement to eight million units at a price of 15 cents per unit for gross proceeds of $1.2-million.
Each unit will comprise one common share and one non-transferable common share purchase warrant of the company. Each warrant will entitle the holder to purchase one common share for a period of 24 months from the closing date at an exercise price of 20 cents per warrant share, subject to the company's right of acceleration described below.
The company may, in its sole discretion but only in the event that the average trading price of the common shares on the TSX Venture Exchange has been 45 cents per share or greater for a period of 10 days, accelerate the expiry period of the warrant by providing written notice of such acceleration by way of a news release, such that the exercise period of the warrant will expire on that day which is 30 days from the date of the company's acceleration notice.
The company may, in its sole discretion, pay a finder's fee to agents of the company consisting of a cash fee in an amount of up to 7 per cent of the proceeds raised by such agent as part of this offering. The proceeds raised will be used for general working capital.
We seek Safe Harbor.
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First Star drops Q-Gold deal, plans $900,000 financing
2011-03-25 09:21 ET - News Release
Mr. John Campbell reports
FIRST STAR RESOURCES INC. ANNOUNCES PRIVATE PLACEMENT OFFERING AND TERMINATION OF LETTER AGREEMENT
First Star Resources Inc. has terminated the letter agreement with Q-Gold (Ontario) Ltd., a wholly owned subsidiary of Q-Gold Resources Ltd., which was announced on Feb. 11, 2011. In reviewing the terms of the proposed acquisition, the company determined that the transaction did not fit within its current business objectives.
Additionally, the company has arranged for a non-brokered private placement of up to six million units at a price of 15 cents per unit, for a total of $900,000. Each unit will comprise one common share and one non-transferable common share purchase warrant of the company. Each warrant will entitle the holder to purchase one common share for a period of 24 months from the closing date at an exercise price of 20 cents per warrant share, subject to the company's right of acceleration described in the following paragraph.
The company may, in its sole discretion, but only in the event that the average trading price of the common shares on the TSX Venture Exchange has been 45 cents per share or greater for a period of 10 days, accelerate the expiry period of the warrant by providing written notice of such acceleration by way of news release, such that the exercise period of the warrant will expire on that day which is 30 days from date of the company's acceleration notice.
The company may, in its sole discretion, pay a finder's fee to agents of the company consisting of a cash fee in an amount of up to 7 per cent of the proceeds raised by such agent as part of this offering. The proceeds raised will be used for general working capital.
This agreement is subject to TSX Venture Exchange approval. First Star and Q-Gold share common directors.
We seek Safe Harbor.