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South Star Battery Metals Announces Closing of a Non-Brokered Private Placement
South Star Battery Metals Announces Closing of a Non-Brokered Private Placement Canada ...
About this update from South Star Battery Metals Corp
[{"type":"text","content":"\n \n \n \n South Star Battery Metals Announces Closing of a Non-Brokered Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Jan. 10, 2023\n \n \n /CNW/ - South Star Battery Metals Corp. (\"South Star\" or the \"Company\") (TSXV: STS) (OTCQB: STSBF), is pleased to announce that it has completed a non-brokered private placement of units (the \"Private Placement\" or the \"Offering\") for total proceeds of\n \n C$230,166\n \n . This Offering is related to the Company's previous private placement completed in\n \n November 2022\n \n (See press release dated\n \n Nov. 16, 2022\n \n ), but funds were received in January of 2023. Net proceeds from the Private Placement will be used for exploration, development, Phase 1 construction activities, corporate G&A and general working capital requirements. Phase 1 commercial production is planned for Q4 2023.\n \n \n \n \n \n \n \n \n \n \n Richard Pearce\n \n , CEO of South Star, said, \"We have successfully partnered with strong, long-term institutional investors familiar with\n \n Brazil\n \n , mineral resources and battery metals sector. Funding with Sprott for Phase 1 construction has been released, and Phase 1 construction is well underway. The owner's team is mobilized for construction, and the majority of the major equipment contracts have been signed and down-payments made to lock in our equipment CAPEX. 2023 will be a watershed year for South Star as we transition\n \n Santa Cruz\n \n from a development project into a producing mine. We look forward to 2023 production of high-quality graphite concentrates and cashflows at a time when critical metals supply is in a global deficit and key markets are reorganizing their supply chain as the world transitions through the green energy revolution. Our\n \n Santa Cruz Mine\n \n in\n \n Brazil\n \n and Alabama Project in US will be an important part of the global solution to quickly bringing critical metals to market in stable, safe jurisdictions. South Star has great assets in key...