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South Star Battery Metals Announces Increase in Non-Brokered Private Placement
South Star Battery Metals Announces Increase in Non-Brokered Private Placement ...
About this update from South Star Battery Metals Corp
[{"type":"text","content":"\n \n \n \n South Star Battery Metals Announces Increase in 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 PR Newswire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 18, 2021\n \n /PRNewswire/ - South Star Battery Metals Corp. (\"South Star\" or the \"Company\") (TSXV: STS) (OTCQB: STSBF), today announces that it intends to increase the non-brokered private placement of units (the \"Private Placement\" or the \"Offering\"),\n \n previously announced on\n \n October 15, 2021\n \n \n , to raise approximately\n \n CAD$2,300,000\n \n . The increased Offering is to accommodate an additional institutional investor.  The closing of the Offering is subject to customary conditions, including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the \"\n \n T\n \n SXV\").\n \n \n \n \n \n \n \n \n \n The increased Private Placement will consist of 20,909,091 units priced at\n \n CAD$0.11\n \n per unit (the \"Units\"). Each Unit will consist of one (1) common share and one (1) common share purchase warrant (the \"Warrants\"). Each Warrant will entitle the holder to purchase one additional common share of the Company at an exercise price of\n \n CAD$0.15\n \n per common share for a period of three years from the date of issue. The securities will be subject to a four-month hold period from the date of closing and approval by the TSXV. The Private Placement is subject to a 15% over-allotment option and to an acceleration clause. See below for further details. In connection with the private placement, the Company may pay finders' fees or brokers' warrants to eligible third-parties in consideration for the introduction of subscribers.\n \n \n Net proceeds from the Private Placement will be used for advanced materials sample preparation, commercial agreements, project finance and general working capital requirements for the Company.\n \n \n \n Acceleration Clause\n \n \n \n If during a period of ten consecutive trading days between the date that is four (4) months following the closing of t...