Business
Canstar Announces Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - September 23, 2025) - Canstar Resources Inc. (TSXV: ROX) (O...
About this update from Canstar Resources Inc.
[{"type":"text","content":"Canstar Announces Non-Brokered Private PlacementToronto, Ontario--(Newsfile Corp. - September 23, 2025) - Canstar Resources Inc. (TSXV: ROX) (OTC Pink: CSRNF) (\"Canstar or the \"Company\") announces a non-brokered private placement (the \"Offering\") to raise gross proceeds of up to $2,000,000, through the issuance of flow-through units (\"FT Units\") and non-flow-through units (\"NFT Units\"). Each NFT Unit will be issued at a price of $0.065 and will consist of one (1) common share in the capital of the Company (each a \"Common Share\") and one (1) transferable common share purchase warrant (each a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one additional Common Share of the Company at a price of $0.10 for a period of 36 months from the date of issuance.Each FT Unit will be issued at a price of $0.085 and will consist of one (1) flow-through common share in the capital of the Company (each a \"FT Share\") and one-half (½) of one transferable common share purchase warrant (with two half-warrants being equivalent to one whole Warrant). Each whole Warrant will entitle the holder thereof to acquire one additional Common Share of the Company at a price of $0.10 for a period of 12 months from the date of issuance.Context & Capital Strategy Canstar has maintained a capital strategy focused on efficiency and minimizing shareholder dilution. In January 2024, the Company announced new strategic capital alongside board and management changes. The Company completed a hybrid private placement to raise gross proceeds of approximately $850,000, issuing units priced at $0.03 per hard dollar unit, $0.035 per critical minerals exploration tax credit flow-through unit, and $0.0325 per charity flow-through unit. Each unit consisted of one common share and one warrant exercisable at $0.05 for a two-year term (see link for details).In May 2025, Canstar received $500,000 as the initial payment under a letter of intent for an $11.5 million non-dilutive exploration joint venture with VMS Mining Corporation (link).In September 2025, the Company reported it had received $1,092,500 in early warrant exercise proceeds, with 21.85 million of the 26.7 million warrants issued in the January 2024 financing exercised, while concurrently providing a detailed update on exploration activities related to the joint venture (link)...