Before we talk about GSS, there is one company that is quickly gaining popularity among wall street followers. Valmie Resources Inc. (OTCBB: VMRI) announced that its wholly-owned subsidiary, Vertitek, is poised to become a frontrunner in drone racing, one of sports’ newest and most exciting fields. As per the press release, “one of the Vertitek team members has now qualified for the upcoming U.S. Drone Nationals, the first-ever such event to be nationally televised live on ESPN, August 5 through 7”. This is huge news considering the type of exposure VMRI is set to gain from this event. “Strategic alliances have played a significant role in Valmie’s growth objectives, with two successful collaborations in the past 16 months,” said Gerald B. Hammack, President and CEO of Valmie Resources. “In February, Valmie secured its 333 Exemption to operate commercially two UAV’s that are manufactured by Vertitek, placing us in a prime position to begin to capture a share of the market in this exploding sector.”

Golden Star Resources Ltd. (USA) (NYSEMKT:GSS) has announced that it is offering convertible senior notes whose aggregate principal amount is $65 million.

The convertible senior notes will be issued through a private offering and they are due after five years meaning they will expire in 2021. Gold Star Resources also announced that it struck exchange and purchase deals with two holders of its 5% convertible senior unsecured debentures whose due date is June 1, 2017. The deal will allegedly lead to the exchange of $40 million which is the outstanding convertible debentures equivalent to the latest notes to be issued. It also includes the principal amount that was part of the principal aggregate amount of the offering.

The notes will bear cash interest every six months from a fixed interest rate. They can also be converted to Golden Star common shares at a conversion price that is higher than the current share price in the market. The firm will also determine the initial purchasers as well as the final terms of the offering. Gold Star Resources Ltd plans to use the revenue accumulated from the offering combined with the proceeds from the separate offering of common shares whose value is roughly $30 million. The latter shares are subject to overallotment which might significantly increase the gross proceeds from the public offering by 15%.

The company also intends to use the offering to boost its balance sheet by easing some of its outstanding debt. Gold Star will also repurchase some of the convertible debentures through private transactions. The proceeds from the offering will also be used to service part of the firm’s medium-term loan from Ecobank Ghana Limited. The remaining funds will be used to cater to general corporate matters. The company does not expect any cash proceeds from the dealings.

The notes will only be available to qualified institutional buyers in the US based on Rule 144 as stipulated by the US Securities Act of 1933. They will also be available to persons outside the US based on Regulation S under the US Securities act.