April 12, 2016 16:26 ET
MONTREAL, QUEBEC–(Marketwired – April 12, 2016) – Benoit Moreau (“Moreau”) announced today that he acquired (“the Acquisition“), on a private placement basis, ownership and control of 975,000 units (the “Units”) of Goldstar Minerals Inc. (the “Corporation”) at a price of $0.02 per unit. Each unit is comprised of one common share of the Corporation (a “Share”) and one share purchase warrant (“Warrant”). Each warrant entitles the holder thereof to acquire one common share at a price of $0.05 per warrant for a period of 24 months from the date of issuance of the warrant.
As of the date hereof, after giving effect to the Acquisition, Moreau beneficially owns, or exercises control or direction over (i) 2,385,000 Shares; (ii) 300,000 options; and (iii) 975,000 warrants; representing approximately 16.55% of the currently issued and outstanding shares on a partially diluted basis.
The Units were acquired for investment purposes. Mr. Moreau has a long-term view of the investment as the CEO of the Corporation and does not intend at this time to acquire additional Shares, but may acquire additional Shares either on the open market or through private acquisitions or sell the Shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
This press release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will appear with the Corporation’s documents on the System for Electronic Document Analysis and Retrieval and may also be obtained by contacting Moreau at (514) 591-8058.