12:35 PM EDT, 05/29/2025 (MT Newswires) -- TriStar Gold ( TSGZF ) on Thursday rose 9% after it closed a private placement of share units that raised $10.1 million.

The company said it issued 63-million units at $0.16 apiece, including the partial exercise of the agents' over-allotment option. Each unit is made up of a share and one half of a two-year warrant to buy a second share for $0.25.

Proceeds from the offering are to be used to fund its work program to advance the Castelo de Sonhos gold project in Brazil and for general working capital purposes.

Shares of the company were last seen up $0.015 to $0.175 on the TSX Venture Exchange.

Price: 0.18, Change: +0.02, Percent Change: +9.37