MONTRÉAL, May 09, 2018 (GLOBE NEWSWIRE) -- David Crevier (2075 Robert-Bourassa Blvd., Suite 600, Montréal, Québec H3A 2L1), a director and significant shareholder of Goldstar Minerals Inc. (TSX-V:GDM) (the Company), today announces that he has acquired 5,465,000 common shares of the Company in connection with the Company’s previously announced rights offering (the Rights Offering) and that, concurrently with the closing of the Rights Offering, he and a holding company which he controls have together also acquired 8,100,000 common shares of the Company in settlement of loans owing to them by the Company (the Shares for Debt Settlement).
The common shares acquired by Mr. Crevier directly and indirectly pursuant to the Rights Offering and Shares for Debt Settlement were acquired at a subscription price of $0.05 per share for a total subscription price of $678,250 and represent approximately 14.5% of the issued and outstanding common shares of the Company after completion of the Rights Offering and Shares for Debt Settlement.
Prior to the closing of the Rights Offering, Mr. Crevier owned 22,985,000 common shares, representing approximately 32.3% of the then issued and outstanding common shares of the Company. After completion of the Rights Offering and Shares for Debt Settlement, Mr. Crevier now owns 36,550,000 common shares, representing approximately 39.2% of the current issued and outstanding common shares of the Company. Mr. Crevier is also the holder of 579,236 options to purchase common shares (Options). If Mr. Crevier exercised all of his Options, he would then own 37,129,236 common shares, representing approximately 39.6% of the issued and outstanding common shares of the Company following such exercise.
The common shares acquired by Mr. Crevier were acquired for investment purposes. Mr. Crevier has no current intention to acquire ownership of, or control over, additional securities of the Company.
An early warning report in respect of the above-noted transaction will be filed on SEDAR at www.sedar.com. A copy of the early warning report may be obtained from the Company by contacting:
Benoît Moreau
President & CEO
Goldstar Minerals Inc.
Telephone: 514-591-8058
bmoreau@goldstarminerals.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.