Lodestar Metals Upsizes Private Placement to $1.5M

Executive Summary

• Lodestar Metals Corp. increased its private placement size from C$1 million to C$1.5 million, targeting up to 20 million Units at C$0.075 per Unit.
• Each Unit consists of one common share and half a share‑purchase warrant; the warrant allows purchase of an additional share at $0.12 for two years (subject to acceleration provisions).
• Proceeds will fund exploration and drilling on the Goldrun Project in Nevada and provide working capital.

Key Details

• Offering Size: Increased gross proceeds target from C$1,000,000 to C$1,500,000.
• Pricing: C$0.075 per Unit; up to 20,000,000 Units may be issued.
• Unit Composition: 1 common share + ½ share purchase warrant (each warrant = right to buy 1 additional share at $0.12).
• Warrant Terms: Exercise price $0.12 per share; exercisable for two years from issuance (“Expiry Date”).
• Acceleration Clause: If the post‑consolidation common share VWAP ≥ $0.15 for 10 consecutive trading days, expiry may be accelerated to 30 days after a notice is issued (notice must be within 10 business days of the 10‑day period).
• Finder’s Fee: Up to 6% cash and 6% share purchase warrants payable to finders.
• Resale Restrictions: Securities subject to a lock‑up of four months and one day from issuance.
• Use of Proceeds: Exploration and drilling on the Goldrun Project (Nevada) plus general working capital.
• Exchange Requirement: Offering is subject to acceptance by the TSX Venture Exchange.

Notable Quotes

(No executive quotes were included in the release.)