On March 28, 2025, Heliostar Metals Ltd. completed a bought deal private placement financing of 19,500,000 common shares at a price of $1.00 per common share for aggregate gross proceeds of $19.5 million, which included the partial exercise of the underwriters’ option. The offering consisted of 9,000,000 common shares sold pursuant to the “listed issuer financing exemption” under Part 5A of National Instrument 45-106 – Prospectus Exemptions, and 10,500,000 common shares sold pursuant to other exemptions under applicable Canadian securities laws.
The offering was conducted by a syndicate of underwriters co-led by Cormark Securities Inc. and Velocity Trade Capital Ltd., and included Clarus Securities Inc., BMO Capital Markets, Roth Canada Inc. and Ventum Financial Corp.
Cassels acted for the underwriters.