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South Star Announces Closing of First Tranche of Private Placement, Extension and US$450,000 of Bridge Loans
- NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES - VANCOUVE...
About this update from South Star Battery Metals Corp
[{"type":"text","content":"South Star Announces Closing of First Tranche of Private Placement, Extension and US$450,000 of Bridge Loans\n\n\n\n\n\n - NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES -\n \n\n\n\n VANCOUVER, British Columbia, Aug. 06, 2025 (GLOBE NEWSWIRE) --\n \n South Star Battery Metals Corp.\n \n (“\n \n South Star\n \n ” or the “\n \n Company\n \n ”)\n \n (\n \n TSXV: STS) (OTCQB: STSBF), is pleased to announce that it that it has successfully completed an initial tranche of its non-brokered private placement (the “Private Placement”) of units (the “Units”) for gross proceeds of US$302,610 (CA$415,263.45). Proceeds from the Private Placement will be used for development and production, as well as corporate general working capital requirements. Additionally, the TSX Venture Exchange (the “\n \n TSXV\n \n ”) has granted an extension to the closing time of the Private Placement. The extended date for final acceptance of the Private Placement is now August 22, 2025.\n \n\n Tranche 1 of the Private Placement consists of issuing 1,375,500 Units consisting of a common share priced at US$0.22 (CA$0.3019) and 1,375,500 common share purchase warrants. Each warrant is exercisable into one common share at a price of US$0.22 (CA$0.3019) for 5 years from the date of issue (the “Warrants”). The Units issued pursuant to the Private Placement will be subject to a four-month hold period. Closing of the Private Placement is subject to customary closing conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. In connection with the Private Placement, the Company paid finder’s fees of $4,296.60 and issued 19,530 non-transferable finder’s warrants. Each finder’s warrant is exercisable into one common share at a price of US$0.22 (CA$0.3019 for 5 years from the date of issue (the “Finder’s Warrants”).\n \n\n The Warrants and Finder’s Warrants include an acceleration clause whereby, if at any time after the four-month hold period and before expiry, the daily volume-weighted average price of the Common Shares on the Exchange (or other principal exchange) equals or exceeds C$1.25 for ten (10) consecutive trading days, the Compa...