Hampton Securities Limited Announces closing of Upsized $3 Million LIFE Private Placement Financing of Glenstar Minerals Inc. (CSE:GSTR)

Executive Summary

• Glenstar Minerals Inc. announced the closing of a private placement of 5,122,235 units, raising total gross proceeds of $3,483,119.80.
• The offering included the exercise of the underwriter's over-allotment option, resulting in the issuance of additional units at $0.68 per unit.
• Net proceeds are designated for drilling at the Green Monster Property, trenching at the Wild Horse Property, and general working capital.

Key Details

• Total Units Issued: 5,122,235 Units (including 622,235 units from the over-allotment option).
• Price Per Unit: $0.68.
• Gross Proceeds: $3,483,119.80.
• Over-Allotment: Hampton Securities Limited exercised its over-allotment option for 622,235 units, generating $423,119.80 in additional proceeds.
• Unit Composition: Each Unit consists of one Common Share and one Common Share purchase warrant.
• Warrant Terms: Each warrant is exercisable to purchase one additional Common Share at $0.85 per share until August 26, 2027.
• Agent Commission: The Company paid a cash commission of 7% of the proceeds to the Agent (Hampton Securities Limited).
• Agent Warrants: The Agent and sub-agents received non-transferable warrants to purchase 358,556 Common Shares at $0.68 per share until August 26, 2027.
• Use of Proceeds: Drilling at the Green Monster Property, trenching at the Wild Horse Property, additional exploration at both properties, and general/administrative expenses/working capital.
• Regulatory Status: Offered under National Instrument 45-106 and Coordinated Blanket Order 45-935; securities are not subject to a hold period under Canadian securities laws.

Notable Quotes

• None provided in the text.