Goldstar Minerals Update on the Private Placement

MONTRÉAL, July 17, 2023 (GLOBE NEWSWIRE) -- Goldstar Minerals Inc. (“Goldstar” or the “Corporation”) (TSX-V: GDM) soon to be GMI, provides an update on the private placement announced in its press releases of May 11, and May 19, 2023.

The Corporation is proceeding with its non-brokered private placement for $550,000 consisting of 9,166,666 units, at a price of CDN $0.06 per unit. Each unit consists of one common share and one purchase warrant where each warrant shall entitle the holder thereof to subscribe for one additional common share at an exercise price of CDN $0.12 at any time until two years after closing.

The private placement use of proceeds will be for general working capital and will be used to pay transaction expenses, salaries, trade payables and exploration expenses to be incurred on the Corporation’s projects.

Following the closing of the private placement, the Corporation will confirm the acquisition of the IMV project as disclosed in the May 11, 2023 press release.

Closing is subject to regulatory approval.

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For further information, please contact:
David Crevier
Chairman
Telephone: [phone]
[e-mail]

André Gagné
CEO of Green Mining Innovation
Telephone : [phone]
[e-mail]