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Redstar Gold's C$1.4M private placement nets C$1.1M

Redstar GoldCorp. said April 29 that it has closed its non-brokered ,issuing 19,085,200 units at 6 cents per unit for gross proceeds of C$1.1million.

Each unit consists of 1 common share and 1 common share purchasewarrant. Each warrant can be exercised into 1 common share at 14 cents apiecefor a period of three years from closing.

Proceeds from the placement will be used to advance the company'sUnga goldproject in Alaska and for general corporate purposes.