Redstar Gold Corportion: Early Warning News Release
Vancouver, September 16, 2016 - Cyril Charles Jacques Vaillancourt ("Mr. Vaillancourt"), the Executive Chairman of Redstar Gold Corp. ("Redstar") makes the following announcement in accordance with National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues. Mr. Vaillancourt announces that on September 13, 2016 he acquired of 23.9 million common shares in the capital of Redstar at the sale price of $0.10 per share as part of the a common equity financing via private placement offering previously announced by Redstar Gold. The subject shares were registered in the name of Mount Everest Finance S.A., of which Mr. Vaillancourt is the sole beneficial shareholder. The Redstar common shares are listed for trading on TSX Venture Exchange and will have a four (4) month hold on these acquired shares.
Immediately before the completion of the Transaction, Mr. Vaillancourt beneficially owned or controlled 7.6 million Redstar common shares, together with 29.925 million common share purchase warrants and 2.59 million common share stock options, representing 3.47% (15.96% on a partially diluted basis) of the currently issued and outstanding Redstar common shares. After the completion of this share purchase Mr. Vaillancourt will control 31.5 million Redstar common shares, together with 29.925 million common share purchase warrants and 2.59 million common share stock options, representing 12.13% (19.78% on a partially diluted basis) of the currently issued and outstanding Redstar common shares. Immediately following the completion of the Transaction,
Mr. Vaillancourt (through Mount Everest Finance S.A.) had earlier announced his intention to subscribe for 23.9 million Redstar common shares in a private placement offering by Redstar of up to 41 million common shares at $0.10 per share previously announced by Redstar on August 22, 2016.
Mr. Vaillancourt (and Mount Everest Finance S.A.) disposed of the Redstar common shares in the Transaction for investment purposes. Mr. Vaillancourt (or Mount Everest Finance S.A.) may acquire additional shares either on the open market or through private acquisitions or sell the shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. A copy of Mr. Vaillancourt's early warning report will appear on Redstar's profile on the SEDAR website at www.sedar.com and may also be obtained from the contact below.
Redstar's head office is located at 800 West Pender Street, Suite 600 Vancouver, British Columbia, V6C 2V6, Canada.
For more information contact:
C. C. Jacques Vaillancourt
+44.7.802.268.247
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