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Blue Star Gold to Raise C$800,000 in a Private Placement of Shares

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Blue Star Gold (BAU.V) intends to complete a non-brokered private placement to raise up to C$800,000 and plans to settle debts for a total amount of C$127,798.66, it said in a statement late Tuesday.

The company will look to place up to four-million shares priced at C$0.20 apiece. Proceeds will be used for general working capital needs.

The junior mining company also plans to issue 638,993 shares at C$0.20 apiece to settle debts owing under past director services and for unpaid finder's fees owing to an arm's length party, it said. Director and controlling shareholder of the company, Georg Pollert, is participating in both the private placement and the debt settlements, the company added.

Shares of the company were last seen up 2.4% at C$0.215 on the TSX Venture Exchange.

Price: $0.22, Change: $+0.01, Percent Change: +2.38%

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