TriStar Implements Management Changes and Raises CDN$1,030,915.50 in First Tranche of Private Placement
Houston, TX / TheNewswire / December 11 2015 - TriStar Gold Inc. (the "Company" or "TriStar") announces the following management changes of the Company: Nick Appleyard has been appointed a Director, President and CEO, Scott Brunsdon has been appointed CFO, and Mo Srivastava has been appointed Vice President. Mark Jones remains Executive Chairman. Messrs. Tony Brown and Mark Cannuli have also been appointed advisors to the Company.
The Company has raised CDN$1,030,915.50. under the first tranche of the private placement announced November 18, 2015 (the "Private Placement") by the issuance of 6,872,770 common shares of the company. The company has paid a finder's fee of 227,123 shares to Maxit Capital Ltd. of Toronto in connection with the private placement.
The proceeds of the Private Placement are to be used to advance the Company's Castelo de Sonhos project in Brazil and for working capital.
All of the shares issued pursuant to the Private Placement will be subject to a hold period that will expire April 11, 2016.
The Company has granted a total 8,650,000 options exercisable to purchase shares at a price of $0.18 per share to employees, advisors and directors of the Company, for a period of five years.
Mark Jones, Chairman, stated "We are very pleased to welcome the new management team whose experience and expertise will greatly assist us in advancing our Castelo de Sonhos Project which bears similarities to Tarkwa and Jacobina."
About TriStar:
TriStar Gold is a gold exploration company focused on high-potential properties in Brazil. In addition to Castelo de Sonhos, TriStar holds another exploration project in the Tapajos district known as the Bom Jardim Property. The Company's shares are listed on the TSX Venture Exchange under the symbol TSG-V. Further information is available at www.Tristarau.com
For further information, please contact:
Nick Appleyard
President and CEO
281-579-3400
info@tristarau.com
Neither 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward-Looking Statements
Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation which are not historical facts and are made pursuant to the "safe harbour" provisions under the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon the Company's reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause the Company's plans to change include changes in demand for and price of gold and other commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments in Brazil; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of the company's projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
TriStar Gold, Inc.
16360 Park Ten Place, Suite 125, Houston, Texas 77084 | Tel: 281.579.3400 Fax: 281.579.9799
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