Heliostar Metals Raises $19.5 Million in Bought-Deal Equity Financing

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Heliostar Metals Raises $19.5 Million in Bought-Deal Equity Financing

, MT Newswires - 12:43 PM ET 3/28/2025 default

12:43 PM EDT, 03/28/2025 (MT Newswires) -- Heliostar Metals ( HSTXF ) on Friday closed its previously announced bought-deal equity financing, including the partial exercise of the underwriters' over-allotment option, raising $19.5 million.

The company issued 19.5-million shares priced at $1.00 each in the offering. Heliostar added that mining investor Eric Sprott, through 2176423 Ontario, a corporation beneficially owned by him, invested $5 million by subscribing for 5-million shares.

Proceeds of the offering will be used for the development of the company's projects in Mexico, including drilling at Ana Paula, and for general corporate purposes.

Shares of the company were last seen unchanged at $1.02 on the TSX Venture Exchange.

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