TriStar GoldInc. said July 18 that it has closed a private placement,raising a total grossed proceeds of C$4.3 million.

The raising originally targeted C$6 million.

In the two tranches combined, the company issued 14,188,214units at 30 cents apiece.

Each unit consists of 1 common share and 0.5 of a sharepurchase warrant that entitles a holder to acquire an additional share for 55cents each for a 24-month period.

The company earmarked the proceeds to advance the goldproject in Brazil and for working capital and general corporate purposes.