Canadian gold explorer Stardust to raise up to $14.5m for Cadillac Break prospecting
TSX-V-listed gold explorer Stardust Metal Corporation has appointed Canaccord Genuity Corporation as lead agent and sole bookrunner on behalf of a syndicate of agents to be formed in connection with a "best efforts" private placement offering for aggregate gross proceeds of up to $12.6-million.
Stardust has already received a lead order from a recognised publicly traded regional producer.
The offering will comprise 3.3-million premium flow-through common shares of the company at a price of $2.72 apiece and up to 1.7-million common shares at a price of $1.95 apiece.
Stardust also grants Canaccord the option to sell an additional 15% of each of the premium flow-through shares and common shares to raise additional gross proceeds of $1.8-million, which would raise a total $14.5-million from the private placement.
Stardust is developing assets in the world-class Cadillac Break, Ontario, with its main assets being the McGarry, Omega, Kirkland West and Goldie projects.
