Jun 04, 2015
Desert Star Closes Non-Brokered Private Placement for Gross Proceeds of $110,000
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Vancouver, B.C.: June 4, 2015 (TSXV: DSR) (“Desert Star” or the “Company”) is pleased to announce that it has closed its non-brokered private placement financing, previously announced by news release dated May 20, 2015 (the “Private Placement”) for gross proceeds of $110,000 by the issuance of 733,333 units (each a “Unit”) of the Company at a price of $0.15 per Unit. Each Unit is comprised of one common share and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one additional share of the Company for a period of two years from the date of issuance at a price of $0.25 per common share.
In connection with the Private Placement the Company paid aggregate cash commission of $10,000. Proceeds of the Private Placement will be used for the continued exploration of the Company’s properties and for general working capital purposes. All securities issued pursuant to the Private Placement are subject to a four month and a day hold period.
On behalf of the Board of
DESERT STAR RESOURCES LTD.
“Vince Sorace”
Vince Sorace
President and CEO, Desert Star Resources Ltd.
For further information regarding Desert Star, please email info@desertstar.ca or visit our website at www.desertstar.ca.
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.