The Prospector News

Star Diamond Corporation Announces Closing of $1 Million Flow-Though Private Placement Financing and Additional Non Flow-Through Private Placement of Up to $2 Million

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Star Diamond Corporation Announces Closing of $1 Million Flow-Though Private Placement Financing and Additional Non Flow-Through Private Placement of Up to $2 Million

 

 

 

 

 

Star Diamond Corporation (TSX: DIAM) is pleased to announce the successful closing of a $1.0 million private placement of 5,555,556 Flow-Through Units at a price of $0.18 per Flow-Through Unit.

 

Each Flow-Through Unit is comprised of one flow-through common share and one-half of one flow-through warrant. Each whole warrant will entitle the holder thereof to purchase one non-flow-through common share at a price of $0.25, for a period of twenty-four months from closing. The proceeds from the sale of the Flow-Through Units will be used by the Corporation to incur Canadian exploration expenses prior to December 31, 2021 (or December 31, 2022 if the proposals by the Department of Finance resulting from the COVID-19 pandemic, announced on July 10, 2020, become law). The Corporation will renounce the Qualifying Expenditures to subscribers of Flow-Through Units for the fiscal year ended December 31, 2020.

 

The Corporation issued Red Cloud Securities Inc., acting as finder in connection with the Flow-Through Offering, common shares from treasury equal to 5%, and also issued the Finder warrants equal to 5%, of the number of Flow-Through Units attributable to the Finder pursuant to the Flow-Through Offering. In relation to the Offering, the Corporation issued 277,778 common shares and 277,778 in Finder’s Warrants exercisable at any time up to twenty-four months following the closing of the Flow-Through Offering at $0.19 per share. All securities issued pursuant to the Flow-Through Offering are subject to a four month hold period in accordance with applicable securities laws and exchange regulations. The Flow-Through Offering is subject to TSX acceptance of requisite regulatory filings. Insiders did not participate in the Flow-Through Offering.

 

Star Diamond is pleased to also announce that it proposes to undertake an additional non-brokered private placement for gross proceeds of up to $2.0 million. The Offering will be comprised of non-flow-through units to be sold at a price of $0.15 per Unit. Each Unit will be comprised of one common share and one warrant. The Unit Warrants entitle the holder thereof to purchase one common share at a price of $0.25, for a period of twenty-four months from closing. The exact number of Units sold will be determined at closing. The Corporation may pay finders’ fees, comprised of common shares and warrants, in connection with the Offering. All securities issued pursuant to the Offering will be subject to a four month hold period in accordance with applicable securities laws and exchange regulations. The Offering is subject to TSX acceptance of requisite regulatory filings.

 

About Star Diamond Corporation

 

Star Diamond is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Corporation trade on the Toronto Stock Exchange.

 

Posted December 31, 2020

Share this news article

MORE or "UNCATEGORIZED"


Hudbay Completes Upsized Bought Deal Equity Offering

Hudbay Minerals Inc. (TSX:HBM) (NYSE: HBM) is pleased to announc... READ MORE

May 24, 2024

PANTHER MINERALS CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

Panther Minerals Inc. (CSE: PURR), is pleased to announce that t... READ MORE

May 24, 2024

SILVERCORP REPORTS ADJUSTED NET INCOME OF $39.3 MILLION, $0.22 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $91.6 MILLION FOR FISCAL 2024SILVERCORP REPORTS ADJUSTED NET INCOME OF $39.3 MILLION, $0.22 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $91.6 MILLION FOR FISCAL 2024

Silvercorp Metals Inc.  (TSX: SVM) (NYSE American: SVM) reported... READ MORE

May 24, 2024

Guanajuato Silver Reports Q1 2024 Financial and Operating Results

Guanajuato Silver Company Ltd. (TSX-V:GSVR) (OTCQX:GSVRF) has r... READ MORE

May 24, 2024

ARIS MINING TO INCREASE OWNERSHIP IN SOTO NORTE PROJECT TO 51% AND COMMENCES STUDY TO ASSESS NEW DEVELOPMENT PLAN

Aris Mining Corporation (TSX: ARIS) (NYSE-A: ARMN) announces that... READ MORE

May 24, 2024

Copyright 2024 The Prospector News