Estrella $500,000 Financing Fully Subscribed
May 07 2014 - 5:43PM
Marketwired
Estrella $500,000 Financing Fully Subscribed
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 7, 2014) -
Estrella Gold Corporation (TSX-VENTURE:EST) ("Estrella" or the
"Company"), is pleased to announce that the private placement for
$500,000 by way of an offering of 10 million units (the "Units") at
$0.05 per Unit has been fully subscribed and will be closed
shortly. Estrella requested conditional approval of the offering
from the TSX Venture Exchange and received that conditional
approval on May 2, 2014. The completion of the private placement
remains subject to the final approval of the TSX Venture
Exchange.
Mr. Jason Weber, Estrella's recently appointed President and CEO
commented, "I am very pleased with how smoothly this financing has
gone. My focus now shifts to Peru and on completing a comprehensive
review of the project portfolio. John Wilson, my predecessor at
Estrella, and I will conduct this review next week with the goal of
defining our joint venture strategy for each of our current
properties and generating new prospects."
Financing Terms
Each $0.05 Unit consists of one common share and one common
share purchase warrant which allows the holder to buy one common
share per warrant held for a period of 3 years at $0.10 per share.
Insiders and certain strategic investors have acquired a
significant portion of this offering.
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)
687-3520(888) 889-4874Estrella Gold CorporationSandrine
LamShareholder Communications(604) 687-3520(888)
889-4874www.estrellagold.com