BULLETIN V2023-0338
HELIOSTAR METALS LTD. ("HSTR")
BULLETIN TYPE: Miscellaneous
BULLETIN DATE: December 19, 2023
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted the Company's warrant incentive program (the "Warrant Incentive Program) designed to encourage the exercise of 46,363,630 existing warrants of the Company. Each warrant entitled the holder to acquire one common share at a price of $0.30 per share at any time prior to March 16, 2026.
Pursuant to the Warrant Incentive Program, each of the holders of warrants that exercised warrants during an early exercise period (the "Early Exercise Period") received an additional one-third of one incentive warrant. Each one Incentive Warrant entitles the holder to purchase one common share at a price of $0.40 per share for a period of two years.
The Early Exercise Period commenced on November 17, 2023 and expired on December 8, 2023.
In connection with the Warrant Incentive Program, a total of 17,599,544 warrants were exercised, providing gross proceeds of $5,279,863.20 to the Company and resulting in the Company issuing 17,599,544 Common Shares and 5,866,504 Incentive Warrants as follows:
Number of shares issued upon exercise of existing warrants: 17,599,544 common shares
Purchase Price (exercise price of the existing warrants): $0.30 per common share
Incentive Warrants: 5,866,504 share purchase warrants to purchase 5,866,504 shares
Incentive Warrant Exercise Price: at a price of $0.40 per share, for a two year period
Number of Placees: 39 Placees
Insider / Pro Group Participation:
Placees # of Placee (s) Aggregate # of Shares
Aggregate Existing Insider involvement: 2 111,818
Aggregate Pro Group Involvement: 7 1,037,272
Aggregate Cash Amount Aggregate #
of Shares Aggregate #
of Warrants
Finder's Fee: NA NA NA
All warrants that were not exercised under the Warrant Incentive Program continued to entitle the holder to acquire one common share at the exercise price of $0.30 per common share until March 16, 2026. For further details, please refer to the Company's news releases dated on November 21, 2023, December 11, 2023 and December 18, 2023.
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