Business
Blue Star Announces Closing of Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2025) - Blue Star Gold Corp. (TSXV: BAU) (...
About this update from Blue Star Gold Corp.
[{"type":"text","content":"Blue Star Announces Closing of Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - May 9, 2025) - Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP0) (\"Blue Star\" or the \"Company\"), a leading explorer in Canada's North, announces that, further to its news release of March 25, 2025 and subject to the approval of the TSX Venture Exchange (the \"Exchange\"), it has issued 35,000,000 common shares (each a \"Share\") at $0.10 per Share raising gross proceeds of $3,500,000 (the \"Private Placement\"). Dr. Georg Pollert, a director and controlling shareholder of the Company, purchased an aggregate of 29,500,000 Shares pursuant to the Private Placement. As a result, the issuance of these Shares pursuant to the Private Placement is considered a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (\"MI 61-101\")). The Company relied upon the exemptions from the formal valuation and minority shareholder approval requirements set out in sections 5.5(b) and 5.7(e) of MI 61-101‎, respectively.All securities issued are subject to a four-month and one day hold period pursuant to securities laws in Canada and the Exchange Hold Period, expiring on September 10, 2025. The Company paid an arm's length finder a fee in the amount of $30,000 cash and 300,000 finder's warrants (the \"Finder's Warrants\") to a qualified party in accordance with Exchange Policies. The Finder's Warrants are non-transferable and exercisable at $0.10 per Share until May 9, 2026. The Company intends to use the net proceeds from the Private Placement for general working capital purposes. About Blue Star Gold Corp.Blue Star is a mineral exploration and development company focused in Nunavut, Canada. Blue Star's landholdings total 290 square kilometres of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt. The Company owns the Ulu Gold Project, comprised of the Ulu Mining Lease and Hood River Property, and the Roma Project. A significant high-grade gold resource exists at the Flood Zone deposit (Ulu Mining Lease), and numerous high-potential exploration targets (gold and critical minerals) occur throughout the Company's extensive landholdings, providing Blue Star with excellent resource growth potential. The site of the future...