Northstar Gold Corp. announced a non-brokered private placement to issue 9,090,909 units at an issue price of CAD 0.055 per unit for the gross proceeds of CAD 499,999.995 on August 15, 2023. Each Unit shall consist of one common share and one share purchase warrant, with each whole share purchase warrant entitling the holder thereof to acquire one additional common share at an exercise price of CAD 0.075 for a period of 24 months from the date of issuance.

The Offering is scheduled to close in tranches, with the first tranche of approximately CAD 200,000 expected to close between August 15, 2023 and August 25, 2023 and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange. The Company may pay finder's fees on a portion of the Offering of up to 7% of the aggregate gross proceeds raised. The finder's fees shall be paid in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.

The transaction may include participation from certain directors, officers and other insiders. All securities issued in connection with the Offering will be subject to a four-month hold period from the closing date under applicable Canadian securities laws.