Earlier this month, Heliostar Metals (HSTR.V) announced it intended to close a non-brokered private placement with Eric Sprott, raising a total of C$6M. As per the terms of the financing, Heliostar will be issuing 10 million units priced at C$0.60 with each unit consisting of one common share as well as a half warrant. Each full warrant can be exercised at C$0.90 for a period of 24 months. The placement closed last week.
Subsequent to closing the transaction, Sprott has now become a reporting shareholder as his stake will increased to approximately 13% of Heliostar’s share count, and to almost 16% on a fully diluted basis.
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