Heliostar Announces Closing of US$10M Debt Facilities to Support Acquisition of Production Assets
Heliostar Metals (TSXV: HSTR) (OTCQX: HSTXF) has closed two debt facilities totaling US$10 million to support its acquisition of assets from Florida Canyon Gold. The facilities include a Working Capital Facility and Transaction Closing Facility with Ocean Partners USA and Deans Knight Capital Management respectively. The company has drawn US$5 million from the Transaction Closing Facility and has access to an additional US$5 million from the Working Capital Facility. As part of the arrangement, Heliostar issued 1,500,000 common shares subject to a four-month statutory hold period.
Heliostar Metals (TSXV: HSTR) (OTCQX: HSTXF) ha chiuso due contratti di debito per un totale di 10 milioni di dollari USA per supportare l'acquisizione di asset da Florida Canyon Gold. I contratti includono una Struttura di Capitale Circolante e una Struttura di Chiusura della Transazione con Ocean Partners USA e Deans Knight Capital Management, rispettivamente. L'azienda ha prelevato 5 milioni di dollari USA dalla Struttura di Chiusura della Transazione e ha accesso a ulteriori 5 milioni di dollari USA dalla Struttura di Capitale Circolante. Come parte dell'accordo, Heliostar ha emesso 1.500.000 azioni ordinarie soggette a un periodo di blocco legale di quattro mesi.
Heliostar Metals (TSXV: HSTR) (OTCQX: HSTXF) ha cerrado dos contratos de deuda por un total de 10 millones de dólares estadounidenses para apoyar la adquisición de activos de Florida Canyon Gold. Los contratos incluyen una Línea de Capital de Trabajo y una Línea de Cierre de Transacción con Ocean Partners USA y Deans Knight Capital Management, respectivamente. La empresa ha retirado 5 millones de dólares estadounidenses de la Línea de Cierre de Transacción y tiene acceso a otros 5 millones de dólares estadounidenses de la Línea de Capital de Trabajo. Como parte del acuerdo, Heliostar emitió 1,500,000 acciones ordinarias sujetas a un período de retención legal de cuatro meses.
Heliostar Metals (TSXV: HSTR) (OTCQX: HSTXF)는 Florida Canyon Gold의 자산 인수를 지원하기 위해 총 1천만 달러 미국 규모의 두 개의 부채 시설을 마감했습니다. 이 시설에는 Ocean Partners USA와 Deans Knight Capital Management와 각각의 거래 마감 시설과 운영 자본 시설이 포함됩니다. 이 회사는 거래 마감 시설에서 500만 달러 미국을 인출했으며 운영 자본 시설에서 추가로 500만 달러 미국을 이용할 수 있습니다. 협약의 일환으로 Heliostar는 4개월 법적 보유 기간이 적용되는 1,500,000주 보통주를 발행했습니다.
Heliostar Metals (TSXV: HSTR) (OTCQX: HSTXF) a clôturé deux facilités de dette totalisant 10 millions de dollars américains pour soutenir son acquisition d'actifs de Florida Canyon Gold. Les facilités comprennent une Facilité de Fonds de Roulement et une Facilité de Clôture de Transaction avec Ocean Partners USA et Deans Knight Capital Management, respectivement. La société a tiré 5 millions de dollars américains de la Facilité de Clôture de Transaction et a accès à un montant supplémentaire de 5 millions de dollars américains dans le cadre de la Facilité de Fonds de Roulement. Dans le cadre de l'accord, Heliostar a émis 1 500 000 actions ordinaires soumises à une période de blocage légale de quatre mois.
Heliostar Metals (TSXV: HSTR) (OTCQX: HSTXF) hat zwei Schuldenfinanzierungen in Höhe von insgesamt 10 Millionen US-Dollar abgeschlossen, um den Erwerb von Vermögenswerten von Florida Canyon Gold zu unterstützen. Die Finanzierungen umfassen eine Betriebskapitalfinanzierung und eine Transaktionsabschlussfinanzierung mit Ocean Partners USA und Deans Knight Capital Management, jeweils. Das Unternehmen hat 5 Millionen US-Dollar aus der Transaktionsabschlussfinanzierung abgerufen und hat Zugang zu weiteren 5 Millionen US-Dollar aus der Betriebskapitalfinanzierung. Im Rahmen der Vereinbarung hat Heliostar 1.500.000 Stammaktien ausgegeben, die einer viermonatigen gesetzlichen Haltefrist unterliegen.
- Secured US$10 million in debt financing
- Immediate access to US$5 million working capital facility
- Successfully closing acquisition of Florida Canyon Gold assets
- Increased debt burden of US$10 million
- Share dilution through issuance of 1.5 million common shares
- Four-month lock-up period on newly issued shares
Vancouver, British Columbia--(Newsfile Corp. - November 6, 2024) - Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce the closing of two previously-announced debt facilities with Ocean Partners USA, Inc. (the "Working Capital Facility") and Deans Knight Capital Management Ltd. (the "Transaction Closing Facility") for aggregate gross proceeds of US
The Company issued 1,500,000 common shares for loan establishment, which will be subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation in Canada.
Heliostar has drawn down US
About Heliostar Metals Ltd.
Heliostar aims to grow to become a mid-tier gold producer. The Company is focused on developing the
FOR ADDITIONAL INFORMATION PLEASE CONTACT:
Charles Funk
President and Chief Executive Officer
Heliostar Metals Limited
Email: charles.funk@heliostarmetals.com
Phone: +1 844-753-0045
Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: rob.grey@heliostarmetals.com
Phone: +1 844-753-0045
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.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things, the intended use of proceeds of the Working Capital Facility and the Transaction Closing Facility, closing of the Acquisition, exploration and development of the Company's projects and potential cash flow and production from the Company's projects.
Forward-looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect the Company's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company's mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding exploration and mining activities; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in the Company's public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
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FAQ
How much debt financing did Heliostar Metals (HSTXF) secure in November 2024?
What is the purpose of Heliostar's (HSTXF) US$10M debt facilities?
How many common shares did Heliostar (HSTXF) issue for the loan establishment?
