Lodestar Metals Closes First Tranche of Financing

Executive Summary

• Lodestar Metals Corp. closed the first tranche of its previously announced non‑brokered private placement, issuing 14,982,068 units at $0.075 per unit for gross proceeds of $1,123,655.10.
• Each unit consists of one common share and half of a share purchase warrant (full warrant allows purchase of an additional share at $0.12); warrants are exercisable for two years, with acceleration provisions if the share price exceeds $0.15 for 10 consecutive trading days.
• Proceeds will be allocated to exploration and drilling at the Goldrun Project in Nevada and for general working capital.

Key Details

• Units Issued: 14,982,068 units @ $0.075 per unit → $1,123,655.10 gross proceeds.
• Unit Composition:
• 1 common share per unit.
• ½ of a share purchase warrant per unit (full warrant = right to buy 1 additional share at $0.12).
• Warrant Terms: Exercise price $0.12 per share; exercisable for two years from issuance. Acceleration clause triggers if VWAP ≥ $0.15 for 10 consecutive trading days, moving expiry to 30 days after acceleration notice.
• Resale Restrictions: Units restricted from resale until February 25 2026.
• Finder Compensation: Cash fee of $15,939.15 and issuance of 212,522 finder’s warrants (exercisable at $0.12 per share for two years).
• Use of Proceeds: Primarily for exploration and drilling on the Goldrun Project (Nevada); remainder for working capital.
• Previous Announcements Referenced: September 29 2025, October 15 2025, October 22 2025 private placement notices.

Notable Quotes

(No direct quotes were included in the release.)