Redstar Gold Corp. (TSX.V:RGC) announces it has closed a non-brokered private placement of 18,750,000 common shares at a price of C$0.04 per share raising gross proceeds of C$750,000.
The Private placement is subject to the approval of the TSX Venture Exchange and the securities will be subject to a four month and one day hold period under securities laws. No finder's fees were paid in conjunction with the financing.
Proceeds of the placement will be used to advance the company's Unga Gold project In Alaska and for general working capital purposes.
About Redstar Gold Corp
Redstar is a junior exploration company focused on high-grade gold exploration in North America. In Alaska, the Company is exploring the 100% owned high-grade Unga Gold Project which was initially acquired in 2011. The Unga Gold Project contains several high grade gold/silver vein systems, two of which, Apollo & Sitka were sites of historic high-grade gold production. The Company recently completed an eight hole, 1,500 metre diamond drill programme at Unga.
Redstar also owns 30% of the Newman Todd Gold project, in Red Lake, Ontario, Canada Newman Todd is a high-grade gold discovery along a 1.8 km corridor within the Newman Todd Structure (NTS). The gold mineralization in the NTS remains open along strike and at depth. Redstar also owns 100% of 11 properties (260 claims) in Nevada with significant gold prospectivity.
Redstar Gold Corporation (RGC: TSX.V)
Ken Booth, President and CEO
800 WEST PENDER STREET
Toll Free: 1-877-310-3330
Redstar Gold Corp.
Paul Durham, Investor Relations
Toll Free: 1-877-310-3330
Forward-Looking Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Redstar Gold Corporation (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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.