16:29:54 EDT Fri 24 May 2024
Enter Symbol
or Name
USA
CA



Heliostar Metals Ltd
Symbol HSTR
Shares Issued 147,773,612
Close 2023-05-23 C$ 0.475
Market Cap C$ 70,192,466
Recent Sedar Documents

Heliostar Metals resumes trading on OTCQX

2023-05-23 12:01 ET - News Release

Mr. Charles Funk reports

HELIOSTAR ANNOUNCES REINSTATEMENT TO OTCQX MARKET UNDER SYMBOL HSTXF AFTER ANA PAULA ACQUISITION

Heliostar Metals Ltd. has returned to trading on the OTCQX Best Market following the completion of the acquisition of the Ana Paula project. Heliostar will continue trading under the symbol HSTXF. U.S. investors can find current financial disclosure and real-time Level 2 quotes for the company on the OTC Markets website.

Heliostar chief executive officer Charles Funk commented: "Reinstatement on the OTCQX was a priority upon completing the acquisition of the Ana Paula gold project. The scale of the transaction required a trading halt on our primary Canadian exchange resulting in a subsequent pause on the company's OTCQX status until today. Heliostar shares resumed trading at an opportune time for our current and prospective American shareholders. We expect the first drill results from Ana Paula this week."

The OTCQX Market operates a regulated market for trading 12,000 U.S. and international securities. To qualify for OTCQX, companies must meet high financial standards. They must follow best-practice corporate governance and demonstrate compliance with applicable securities laws. Trading on the OTCQX Market enables companies to demonstrate their qualifications and build visibility among U.S. investors.

Burns, Figa & Will PC acted as the company's OTCQX sponsor.

About Heliostar Metals Ltd.

Heliostar is a junior mining company with a portfolio of high-grade gold projects in Mexico and Alaska.

The company is focused on developing the 100-per-cent-owned Ana Paula project in Guerrero, Mexico. In addition, Heliostar is working with the Mexican government to permit the San Antonio gold project in Baja Sur, Mexico. The company continues efforts to explore the Unga gold project in Alaska, United States.

The Ana Paula project deposit contains proven and probable mineral reserves of 1,081,000 ounces of gold at 2.38 grams per tonne gold and 2,547,000 ounces of silver at 5.61 grams per tonne silver. Ana Paula hosts measured and indicated resources of 1,468,800 ounces of gold at 2.16 grams per tonne gold and 3.6 million ounces of silver at 5.3 grams per tonne silver. The asset is permitted for open-pit mining and contains significant existing infrastructure, including a portal and a 412-metre-long decline. An updated prefeasibility study, titled "Ana Paula Project NI 43-101 Technical Report Preliminary Feasibility Study Update," was filed on SEDAR on April 6, 2023, with an effective date of Feb. 28, 2023, prepared for the company by Daniel H. Neff, PE, Dr. Art S. Ibrado, PhD, PE, Richard K. Zimmerman, RG, SME-RM, Dr. Craig Gibson, PhD, CPG, Andrew Kelly, PEng, Gordon Zurowski, PEng, Paul Daigle, PGeo, Gilberto Dominguez, PE, and James A. Cremeens, PE, PG.

Statement of qualified person

Stewart Harris, PGeo, a qualified person, as such term is defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information in this news release and has approved the disclosure herein.

We seek Safe Harbor.

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