Houston, Texas - TriStar Gold Inc. (“TriStar”) is pleased to announce that it has closed a private placement consisting of 20,600,000 units of TriStar at the price of $0.25 per unit to raise gross proceeds of $5,150,000. Each unit consists of one common share and one non-transferable common share purchase warrant, with each warrant exercisable until December 20, 2015 to purchase one additional common share of TriStar at a price of $0.30 per share.
In connection with the private placement, TriStar paid a finder’s fee in the amount of $31,500 in cash
Net proceeds from the private placement will be applied to TriStar’s general working capital
All of the securities issued as part of the private placement, and any common shares issued on the exercise of the warrants, are subject to a hold period and may not be traded in Canada until April 21, 2011, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange
TriStar Gold is a gold exploration company focused on high-potential properties in Brazil. TriStar holds exploration projects in Pará State of Brazil known as the Castelo dos Sonhos property and in the Tapajos district known as the Bom Jardim and the Andorinhas properties. Further information is available at www.Tristarau.com.
For further information, please contact:
TriStar Gold Inc.
Mark Jones III
Chairman and CEO
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.
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 TriStar’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 forwardlooking 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 TriStar’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 TriStar’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. TriStar disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.