TriStar Gold, Inc. announced a non-brokered private placement of 23,076,923 units at a price of CAD 0.13 per unit for the maximum gross proceeds of CAD 3,000,000 on August 2, 2023. Each units consists of one common share and one-half share purchase warrant. The transaction will include participation from returning investors, Auramet International LLC and individual investors and others.

Each full warrant will be exercisable for one common share of the company at an exercise price of CAD 0.20 per share and a three-year term-to-maturity. All securities issued in the private placement will be subject to a hold period of four months and one day after issuance. The transaction is expected to close on August 21, 2023, and is subjected to all regulatory approvals being received, including the approval of the TSX Venture Exchange.