(TheNewswire)
Vancouver, Canada - TheNewswire - October 1 st , 2020 - Redstar Gold Corp.(TSXV:RGC ) US (OTC :RGCTF ) ( FRA:RGG)( "Redstar" or the "Company" )is pleased to report that the Company'sshareholders voted in favour of all items of business brought beforethem at the Company's Annual General & Special Meeting("AGSM") held on September 29, 2020.
Redstar CEO, Charles Funk, commented " The AGSM was the final major milestone tocomplete the transformation of Redstar Gold to Heliostar Metals. Witha strong financial position, limited number of shares issued and anupdated board and management team we can now focus on the drillingprogram underway at Unga. The company expects the AGSM action itemsto completed within the next two weeks and will provide updates on theeffective dates as well as provide an exploration update for Ungashortly."
AGSM Details
Shareholders representing 38.03% of the outstandingshares voted overwhelmingly in favour of all the matters submittedbefore the AGSM, as set out in the notice of meeting and informationcircular dated August 24, 2020, including:
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- to set the number of directors at six;
- to elect Jacques Vaillancourt, Ken Booth, GeorgeIreland, Charles Funk, William Lamb and Alan Wilson to the Board ofDirectors (biographies of the directors can be found on the Company'swebsite);
- the reappointment of MNP LLP as auditors of theCompany;
- re-approval of the Company's stock optionplan;
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- approval of a share consolidation of one (1) postconsolidation share for each fifteen (15) pre-consolidationshares;
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- a name change of the Company from Redstar Gold Corp.to Heliostar Metals Ltd; and
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- the adoption of new articles.
About Redstar Gold Corp.
Redstar is a well-financed junior exploration anddevelopment company with a portfolio of high-grade projects in Alaskaand Mexico. The company's flagship asset is the 100% controlled UngaGold Project on Unga and Popof Islands in Alaska. The project hostsan intermediate sulfidation epithermal gold deposit, located withinthe district-scale property that encompasses 240km 2 across the twoislands. Additional targets on the property include porphyry, highsulphidation and intermediate sulphidation epithermal veins. On UngaIsland, priority targets include: the SH-1 and Aquila high-grade goldzones, both on the Shumagin Trend, the former Apollo-Sitka mine, whichwas Alaska's first underground gold mine and the Zachary Bay porphyrygold-copper district. The gold mineralization at the Centennial Zoneis located on neighbouring Popof Island, within four kilometres ofinfrastructure and services at Sand Point.
In Mexico, the company owns 100% of three early stageepithermal projects in Sonora that are highly prospective for gold andsilver. Cumaro forms part of the El Picacho district, while the OsoNegro and La Lola projects are also prospective for epithermalgold-silver mineralization.
For additional information pleasecontact:
Charles Funk
Chief Executive Officer
Redstar Gold Corp
Email: charles.funk@redstargold.com
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Forward-Looking Information. Thisrelease includes certain statements that may be deemed"forward-looking statements". Forward-looking statementsare statements that are not historical facts and are generally, butnot always, identified by the words "expects","plans", "anticipates", "believes","intends", "estimates", "projects","potential" and similar expressions, or that events orconditions "would", "may", "could" or"should" occur. Forward-looking statements in this pressrelease include Redstar's expectations that the transactionscontemplated in the Agreement will be approved by the TSX VentureExchange and completed and that it can obtain shareholder approval forits proposed post-closing share consolidation, name change and theelection of both the Redstar nominees and the Heliodor nominees at itsnext general meeting of shareholders, that it can successfully raiseat least C$6 million and, if so, the number of Redstar shares thatwould be issued in the offering, and, finally, that it can commenceexploration at its Unga project in late August and that it can achieveits 2020 exploration plans. Although the Company believes theexpectations expressed in such forward-looking statements are based onreasonable assumptions, such statements are not guaranteeing of futureperformance and actual results may differ materially from those in theforward-looking statements. Factors that could cause the actualresults to differ materially from those in forward-looking statementsinclude market prices, exploitation and exploration successes, andcontinued availability of capital and financing, and general economic,market or business conditions. Investors are cautioned that any suchstatements are not guarantees of future performance and actual resultsor developments may differ materially from those projected in theforward-looking statements. Forward-looking statements are based onthe beliefs, estimates and opinions of the Company's management on thedate the statements are made. Except as required by applicablesecurities laws, the Company undertakes no obligation to update theseforward-looking statements in the event that management's beliefs,estimates or opinions, or other factors, should change.
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