Groundstar Resources Ltd. (TSXV:GSA) announced a non-brokered private placement of 11,000,000 flow-through common shares at CAD 0.02 per share for gross proceeds of CAD 220,000 on November 8, 2016. The board of directors has the option to increase the proceeds to CAD 500,000. The securities issued are subject to a hold period of four months plus one day from the date of issuance. The transaction is subject to TSX Venture Exchange approval. The transaction is expected to close on or about December 15, 2016.