TriStar Gold, Inc. announced a non-brokered private placement of up to 25,000,000 units at an issue price of CAD 0.20 per unit for gross proceeds of CAD 5,000,000 on March 31, 2022. Each unit will be comprised of one common share and one-half of a common share purchase warrant. Each full warrant shall entitle the holder thereof to acquire one additional common share at an exercise price per common share of CAD 0.30 for a period of 24 months following the closing date of the offering.

The transaction will include participation from new investor Auramet International LLC. Post the closing, the investor will increase its stake to nearly 9.8% The transaction is expected to close on or around April 14, 2022 and is subject to receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange. The company may pay finder's fees in cash or shares to eligible finders.

All securities issued in connection with the offering will be subject to four months and one day hold period in accordance with applicable Canadian securities laws, commencing on the closing date of the offering. The company has the right to accelerate the warrant exercise if the company's share price trades over CAD 0.40 per common share for 30 consecutive days and the company has obtained its preliminary license for its Castelo de Sonhos gold project.