Source: Streetwise Reports 10/11/2024
Heliostar Metals Ltd. (OTC: HSTXF) announced a private placement financing of 10,000,000 units priced at CA$0.60 per unit on October 7, 2024. The company's intervention was to raise CA$6 million in gross proceeds. Each unit includes one common share and a half-share purchase warrant, with each full warrant exercisable at CA$0.90 per share for a two-year period following the close of the offering.
The entire placement is expected to be subscribed to by Eric Sprott through his affiliated company, 2176423 Ontario Ltd. The transaction is set to close around October 11, pending customary conditions and approval from the TSX Venture Exchange. The net proceeds from the placement are designated for working capital and general corporate purposes, and all issued securities will carry a four-month and one-day hold period in line with securities regulations.
Precious Metals Shine Amid Economic and Technical Indicators
Gold's position remained positive as of October 2024, supported by broad trends in both demand and price levels. According to The Speculative Investor on October 7, analysts anticipated that the upcoming U.S. presidential election, regardless of the outcome, would likely exert a downward trend on the U.S. dollar, effectively supporting the gold market over the next year. "Both Kamala Harris and Donald Trump espoused policies that would be bearish for the US$ and bullish for gold" the ...
