Vancouver, British Columbia–(Newsfile Corp. – November 1, 2019) – Blue Star Gold Corp. (TSXV: BAU) (“Blue Star” or the “Company”) announces that Dr. Georg Pollert, of Karmeliterweg 12, 13456 Berlin, Federal Republic of Germany, a principal shareholder and director of Blue Star, has filed an early warning report on SEDAR in connection with three (3) previous share and warrant acquisitions as follows:
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6,000,000 common Shares (“Shares“) and 3,000,000 share purchase warrants (“Warrants“) on April 18, 2016 (“Triggering Acquisition #1“);
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1,500,000 Shares and 750,000 Warrants on April 20, 2018 (“Triggering Acquisition #2“); and
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11,500,000 Shares and 5,750,000 Warrants on May 4, 2018 (“Triggering Acquisition #3“).
(collectively, the “Triggering Acquisitions“)
The Triggering Acquisitions were all carried out pursuant to non-brokered private placements.
Triggering Acquisition #1
Prior to Triggering Acquisition #1, Dr. Pollert held directly 3,170,000 Shares and 1,000,000 Warrants, representing approximately 4.84% of the then outstanding Shares on a non-diluted basis and approximately 6.37% on a partially diluted basis assuming exercise of the Warrants.
Following Triggering Acquisition #1, Dr. Pollert held directly 9,170,000 Shares and 4,000,000 Warrants, representing approximately 9.31% of the then outstanding Shares on a non-diluted basis and approximately 13.38% on a partially diluted basis assuming exercise of the Warrants.
The consideration paid was $0.05 per Unit (each Unit consisting of one share and one-half of a Warrant), for a total purchase price of $300,000. Each full Warrant was exercisable to purchase one Share at a price of $0.10 for 24 months following Closing.
Triggering Acquisition #2
Prior to Triggering Acquisition #2, Dr. Pollert held directly 9,760,000 Shares and 4,000,000 Warrants, representing approximately 9.91% of the then outstanding Shares on a non-diluted basis and approximately 13.97% on a partially diluted basis assuming exercise of the Warrants.
Following Triggering Acquisition #2, Dr. Pollert held directly 11,260,000 Shares and 4,750,000 Warrants, representing approximately 11.43% of the then outstanding Shares on a non-diluted basis and approximately 16.25% on a partially diluted basis assuming exercise of the Warrants.
The consideration paid was $0.05 per Unit (each Unit consisting of one share and one-half of a Warrant), for a total purchase price of $75,000. Each full Warrant was exercisable to purchase one Share at a price of $0.10 for 12 months following Closing.
Triggering Acquisition #3
Prior to Triggering Acquisition #3, Dr. Pollert held directly 11,260,000 Shares and 4,750,000 Warrants, representing approximately 11.43% of the then outstanding Shares on a non-diluted basis and approximately 16.25% on a partially diluted basis assuming exercise of the Warrants.
Following Triggering Acquisition #3, Dr. Pollert held directly 22,760,000 Shares and 10,500,000 Warrants, representing approximately 17.56% of the then outstanding Shares on a non-diluted basis and approximately 25.66% on a partially diluted basis assuming exercise of the Warrants.
The consideration paid was $0.05 per Unit (each Unit consisting of one share and one-half of a Warrant), for a total purchase price of $575,000. Each full Warrant was exercisable to purchase one Share at a price of $0.10 for 12 months following Closing.
Purpose of Dr. Pollert’s Unit Acquisitions
The Units of the Company acquired by Dr. Pollert by way of the Triggering Acquisitions were acquired for investment purposes. Dr. Pollert has a long-term view of the investments and has since acquired additional securities in the Company for investment purposes. As disclosed in the Material Change Report of the Company filed on SEDAR on August 7, 2019, it is currently proposed that Dr. Pollert’s ownership of Shares would further increase from 23,260,000 or 17.95% to up to 64,400,000 or 33.2% on closing of the transactions described in that report. Completion of those transactions is subject to completion of binding agreements and fulfillment of conditions, including stock exchange approval. Depending on market conditions, general economic and industry conditions, the Company’s business and financial condition and/or other relevant factors, Dr. Pollert may acquire additional securities of the Company in the future.
A copy of Dr. Pollert’s early warning report with respect to the Triggering Acquisitions can be found on the Company’s profile on SEDAR at www.sedar.com.
About Blue Star Gold Corp.
Blue Star is a Vancouver-based gold and silver exploration company focused on exploration and development within Nunavut, Canada. The Company through its subsidiary, Inukshuk Exploration Inc., owns the highly prospective 8,015 ha Hood River gold property located contiguous to the Ulu mining lease. Blue Star has recently exercised its option to acquire the Ulu, an advanced gold and silver project and awaits regulatory approvals for the transmittal of the lease and assignment of the permits and licenses. (Please see Blue Star’s news dated – July 29, 2019)
Blue Star has 129.6 million shares outstanding and is listed on the TSX Venture Exchange with the symbol: BAU and on the Frankfurt Exchange with the symbol: 5WP. For information on the Company and its projects, please visit our website: www.bluestargold.ca.
For further information and for a copy of the early warning report, please contact:
Stephen Wilkinson, President and CEO
Telephone: +1 778-379-1433
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX-Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.
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