Remstar Resources Ltd. (TSXV:REM) announced a non-brokered private placement of 10,000,000 units at CAD 0.05 per unit for gross proceeds of CAD 500,000 on November 19, 2012. Each unit will consist of one common share and one-half of one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase an additional common share at CAD 0.10 per common share for a period of two years following closing. The company may accelerate the exercise of warrants by giving a notice to the warrant holders that the warrants will expire on a date which is 30 calendar days after the date of notice, if the trading price of the company's common shares on the exchange over a period of 10 consecutive trading days is at or above CAD 0.20 at any time from four months and one day after the closing of the transaction. The company may pay finders' fee in the transaction.

On January 7, 2013, the company announced that the TSX Venture Exchange has accepted for filing documentation with respect to the first tranche of the transaction. The company will issue 4,600,000 units to eight placees pursuant to the first tranche. Marc Levy, the Chief Executive Officer of the company, will invest for 1,000,000 units. The company will pay CAD 17,000 as finder's fee to James Gagnon pursuant to the first tranche.

On January 8, 2013, Remstar Resources Ltd. closed the transaction. The company issued 4,600,000 units for gross proceeds of CAD 230,000. The securities issued are subject to a hold period till May 8, 2013. The company also incurred cash issue costs of CAD 2,975. The warrants issued are exercisable till January 7, 2015.