|By Marketwired .||
|May 13, 2014 03:30 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/13/14 -- Estrella Gold Corporation (TSX VENTURE: EST) ("Estrella" or the "Company") is pleased to announce that the non-brokered private placement offering announced on April 29, 2014 and May 7, 2014 has been over-subscribed. Estrella has increased the offering from $500,000 to $600,000 or 12,000,000 units and the offering is fully subscribed.
Certain strategic shareholders decided to increase their positions significantly and this has oversubscribed the financing. All of these shareholders have been long term investors in Estrella and supporters of the prospect generator model which Estrella follows.
Estrella will use the proceeds on several strategic fronts which include:
(i) continuing Joint Venture negotiations on current projects; (ii) new project generation; (iii) adding value to current projects; and (iv) for working capital and general corporate purposes.
Each Unit is comprised of one common share and one non-transferable warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one common share at an exercise price of $0.10 per share for three years following the date of the closing. The money from the Offering is in and the Offering will close upon receiving the TSX Venture Exchange final acceptance.
The securities issued pursuant to the Offering will all be subject to a 4 month regulatory hold period commencing from the date of closing.
About Estrella Gold Corporation (TSX VENTURE: EST)
Mineral exploration is inherently risky and Estrella increases the chances of success as a "Prospect Generator" focused on gold exploration in Latin America. Estrella identifies and acquires new mineral properties, conducts initial, low-cost exploration to define new targets and then seeks joint ventures with other companies to fund more advanced exploration. Estrella has two properties optioned out or held in joint venture agreements. The Company is listed on the TSX Venture Exchange (TSX VENTURE: EST). Mr. John Wilson, BSc, MS, is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, and has reviewed and verified the technical information contained in this news release.
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. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.
Estrella Gold Corporation
President and CEO
Estrella Gold Corporation
(888) 889-4874 (FAX)
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