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Starmet Ventures Announces Closing Of Final Tranche Of Convertible Debenture Financing
(via TheNewswire) VANCOUVER, BC, May 25, 2026 – TheNewswire - Starmet Ventures Inc. (CSE: STAR) (“Starmet” or the “Company”), is pleased to announce that,
About this update from Starmet Ventures Inc
[{"type":"text","content":"\n \n(via TheNewswire)\n\n\n\n\n\n\nVANCOUVER, BC, May 25, 2026 – TheNewswire - Starmet Ventures Inc. (CSE: STAR) (“Starmet” or the “Company”), is pleased to announce that, further to its March 25, 2026 and May 6, 2026 news releases, it has closed the final tranche (the “Final Tranche”) of its non-brokered private placement (the “Offering”) of unsecured convertible debentures of the Company (each, a “Convertible Debenture”). The Company issued $500,000 of principal amount of Convertible Debentures under the Final Tranche and a total of $2,750,000 principal amount of Convertible Debentures under the Offering. \n\n\n\n\n\nThe Convertible Debentures issued under the Offering bear interest at a rate of 10% per annum, calculated monthly and payable annually in cash or accrued for conversion at the Conversion Price (as defined below). The Convertible Debentures issued upon closing of the Final Tranche will mature on the earlier of: (a) May 25, 2028; or (b) the date the Company’s securities begin trading on the NASDAQ (the “Maturity Date”). The Company may elect to prepay all or a part of the principal amount and accrued interest without penalty if the Company’s securities begin trading on the NASDAQ, subject to the Company providing 14 days’ notice to the holders of the Convertible Debentures.\n\n\n\n\n\nThe outstanding principal amount owed under each Convertible Debenture may be converted into units of the Company (each, a “Unit”) at a conversion price of $0.35 per Unit (the “Conversion Price”) by the holder thereof at any time on or before the Maturity Date. Each Unit is comprised of one common share in the capital of the Company (each, a “Unit Share”) and one Unit Share purchase warrant (each, a “Unit Warrant”) exercisable at a price of $0.40 per Unit Share (each, a “Unit Warrant Share”) for a period of 24 months from the date of issuance. On the Maturity Date, the holders of the Debentures may convert the outstanding principal amount, together with any accrued and unpaid interest thereon, into Units at the Conversion Price. The Company intends to use the proceeds from the Offering for general working capital purposes.\n\n\n\n\n\nIn connection with the Offering, the Company paid an aggregate of $40,000 in finder's fee to certain qualified arm's length parties (the “Finder”). Also, upon conversion of the Convertible Debenture ...