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TriStar Gold Seeking C$7 Million From a Best-Efforts Private Placement of Share Units

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Tristar Gold (TSG.V) on Thursday said it will raise up to $7 million in with a "best-efforts" private placement of share units.

The company will place up to 30.44-million units at a price of C$0.23 each and made of a share and one half of a two-year warrant to buy a share for $0.30.

Proceeds from the offering, which is scheduled to close on or about June 4, are expected to be used for exploration and development of the company's mineral properties, as well as for general working capital.

Shares of the company closed up $0.02 at $0.27 on TSX Venture Exchange.

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