VANCOUVER, BC / ACCESSWIRE / May 8, 2019 / Megastar Development Corp. ("Megastar", or the "Company") (TSX-V: MDV; Frankfurt: M5QN), an early stage mineral exploration company focused on its recently optioned properties in Oaxaca, Mexico, is pleased to announce that it has closed on a financing in the amount of $672,600 by way of non-brokered private placement. Under the terms of the placement, Megastar has issued 11,210,000 units at a price of $0.06 per unit. Each unit is comprised of one common share of the Company and one non-transferable share purchase warrant. Each warrant will allow the holder the ability to purchase an additional common share of the Company at a price of $0.10. The warrants are good for a period of 24 months, however, should the common shares close at or above $0.20 for a period of 10 consecutive days, the Company may accelerate the expiry date of the warrants to 30 days from such notice.
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