Heliostar Reveals $4.6 M in Commitments Under Warrant Reward Program

Heliostar Metals Ltd (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) (“ Heliostar” or the “Business”) is delighted to supply an upgrade on its warrant workout reward program formerly revealed on November 14, 2023 (the “Warrant Reward Program”). The Warrant Reward Program was created to motivate the early workout of as much as 46,363,630 typical share purchase warrants released on March 16, 2023 (the “Exceptional Warrants”).

To date, holders of 15,368,864 Exceptional Warrants have actually devoted to take part in the Warrant Reward Program. Early workout of such Exceptional Warrants would lead to gross earnings to the Business of $4,610,659.

” We continue to move quickly forward with the Ana Paula task. The future has a great deal of assessment development drivers consisting of resource development, de-risking research studies, sped up path-to-production and continued expedition success. The very first of the drivers, an upgraded mineral resource quote, is anticipated this month,” commented Heliostar CEO, Charles Funk. He continued, “To preserve strength in the balance sheet to accomplish these turning points the Business has actually looked within its share structure to lessen dilution. The Warrant Reward Program has actually gotten substantial dedications amounting to $4.6 million to date. Our company believe it offers among the least dilutive funding results for all Heliostar investors. The offering Warrant Reward Program stays open till December 8, 2023.”

Webinar Invite

The Business is hosting a webinar on November 28 at 1pm Pacific/4pm Eastern time to supply an upgrade on the Ana Paula Job. Please utilize the link here to sign up for the webinar:


About the Warrant Reward Program

Pursuant to the Warrant Reward Program, the Business has actually provided to holders of all 46,363,630 Exceptional Warrants the chance to work out each of their Exceptional Warrants in between 12:00 a.m. PST on November 17, 2023 and 12:00 p.m. PST on December 8, 2023. In return for the early workout, each holder will get one typical share in the capital of the Business (each a “Typical Share”) pursuant to the initial warrant terms, plus as a reward, one-third of one typical share purchase warrant (each whole warrant, an “Incentive Warrant”). Each Reward Warrant permits the holder to get one Typical Share at a workout cost of $0.40 for a duration of 2 years following the date of the issuance of the Reward Warrant. A holder might choose to work out all, none, or a part of their Exceptional Warrants.

Each Exceptional Warrant is presently exercisable to acquire one Typical Share at $0.30 per Typical Share till March 16, 2026. Any Exceptional Warrants staying un-exercised after 12:00 p.m. PST on December 8, 2023 will stay impressive and continue to be exercisable pursuant to their existing terms.

Holders of Exceptional Warrants who choose to take part in the Reward Program are needed to provide the following to the Business on or prior to 12:00 p.m. PST on December 8, 2023:

  • a properly finished and carried out workout kind, in the kind which accompanies the certificate representing the Exceptional Warrants;
  • the initial certificate representing the Exceptional Warrants being worked out; and
  • the relevant aggregate workout cost ($ 0.30 per Exceptional Warrant) payable to the Business by method of qualified cheque, cash order, bank draft, or wire transfer in legal cash of Canada.

The earnings from the early workout of the Exceptional Warrants will be utilized to advance the Business’s Ana Paula Job and for basic working capital.

The Typical Shares released on workout of the Exceptional Warrants will not undergo any hold duration. The Reward Warrants and any Typical Shares released upon the workout of the Reward Warrants will undergo a hold duration ending 4 months after the date of circulation of the Reward Warrants.

The Reward Program goes through particular conditions, consisting of, however not restricted to, the invoice of all essential approvals, consisting of the last approval of the TSX Endeavor Exchange.

About Heliostar Metals Ltd.

Heliostar is a junior mining business with a portfolio of state-of-the-art gold jobs in Mexico and Alaska.

The Business is concentrated on establishing the 100% owned Ana Paula Job in Guerrero, Mexico. In addition, Heliostar is dealing with the Mexican federal and city government to allow the San Antonio Gold Job in Baja Sur, Mexico. The Business continues to check out the Unga Gold Job in Alaska, United States of America.

The Ana Paula Job deposit consists of tested and likely mineral reserves of 1,081,000 ounces of gold (630,000 tested and 451,000 likely ounces) at 2.38 grams per tonne (” g/t”) gold and 2,547,000 ounces of silver (1,322,000 tested and 1,226,000 likely ounces) at 5.61 g/t silver. Ana Paula hosts determined and suggested resources of 1,468,800 ounces of gold (703,800 determined and 765,000 suggested ounces) at 2.16 g/t gold and 3,600,000 ounces of silver (1,637,000 determined and 1,963,000 suggested ounces) at 5.3 g/t silver. The possession is allowed for open-pit mining and consists of substantial existing facilities consisting of a website and a 412-metre-long decrease.

For extra info, please contact:

Charles Funk

Heliostar Metals Limited
Email: [email protected]

Rob Grey

Financier Relations Supervisor
Heliostar Metals Limited
Email: [email protected]

Neither TSX Endeavor Exchange nor its Guideline Solutions Company (as that term is specified in the policies of the TSX Endeavor Exchange) accepts obligation for the adequacy or precision of this release.

This press release consists of particular “Positive Declarations” within the significance of the United States Private Securities Lawsuits Reform Act of 1995 and “positive info” under relevant Canadian securities laws. When utilized in this press release, the words “prepare for”, “think”, “quote”, “anticipate”, “target”, “strategy”, “projection”, “might”, “would”, “might”, “schedule” and comparable words or expressions, determine positive declarations or info. These positive declarations or info connect to, to name a few things: the anticipated early workout of 13,100,000 Exceptional Warrants pursuant to the Warrant Reward Program and the anticipated gross earnings of such workout; making use of net earnings from the early workout of the Exceptional Warrants; the expedition, advancement, and production at the Business’s homes; allowing at the San Antonio task; the release of expedition outcomes; and future resource quotes. Positive declarations and positive info associating with any future mineral production, liquidity, improved worth and capital markets profile of the Business, future development capacity for the Business and its service, and future expedition strategies are based upon management’s affordable presumptions, quotes, expectations, analyses and viewpoints, which are based upon management’s experience and understanding of patterns, existing conditions and anticipated advancements, and other aspects that management thinks matter and affordable in the scenarios, however which might show to be inaccurate. Presumptions have actually been made concerning, to name a few things, the cost of metals; no escalation in the seriousness of public health crises or continuous military disputes; expenses of expedition and advancement; the approximated expenses of advancement of expedition jobs; and the Business’s capability to run in a safe and efficient way and its capability to acquire funding on affordable terms.

These declarations show the Business’s particular existing views with regard to future occasions and are always based upon a variety of other presumptions and quotes that, while thought about affordable by management, are naturally based on substantial service, financial, competitive, political, and social unpredictabilities, and contingencies. Numerous aspects, both recognized and unidentified, might trigger real outcomes, efficiency, or accomplishments to be materially various from the outcomes, efficiency or accomplishments that are or might be revealed or suggested by such positive declarations or positive info and the Business has actually made presumptions and quotes based upon or associated to a lot of these aspects. Such aspects consist of, without constraint: rare-earth elements cost volatility; threats connected with the conduct of the Business’s mining activities in foreign jurisdictions; regulative, authorization or allowing hold-ups; threats associating with dependence on the Business’s management group and outdoors specialists; threats concerning expedition and mining activities; the Business’s failure to acquire insurance coverage to cover all threats, on a commercially affordable basis or at all; currency variations; threats concerning the failure to create adequate capital from operations; threats associating with task funding and equity issuances; threats and unknowns fundamental in all mining jobs, consisting of the mistake of reserves and resources, metallurgical healings and capital and operating expense of such jobs; contests over title to homes, especially title to undeveloped homes; laws and guidelines governing the environment, health and wellness; the capability of the neighborhoods in which the Business runs to handle and manage the ramifications of public health crises; the financial and monetary ramifications of public health crises, continuous military disputes and basic financial aspects to the Business; operating or technical problems in connection with mining or advancement activities; worker relations, labour discontent or unavailability; the Business’s interactions with surrounding neighborhoods; the Business’s capability to effectively incorporate gotten possessions; the speculative nature of expedition and advancement, consisting of the threats of reducing amounts or grades of reserves; stock exchange volatility; disputes of interest amongst particular directors and officers; absence of liquidity for investors of the Business; lawsuits threat; and the aspects determined under the caption “Danger Aspects” in the Business’s public disclosure files. Readers are warned versus associating unnecessary certainty to positive declarations or positive info. Although the Business has actually tried to determine crucial aspects that might trigger real outcomes to vary materially, there might be other aspects that trigger results not to be prepared for, approximated or planned. The Business does not plan, and does not presume any responsibility, to upgrade these positive declarations or positive info to show modifications in presumptions or modifications in scenarios or any other occasions impacting such declarations or info, aside from as needed by relevant law.



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