Starcore arranges $5-million private placement

Executive Summary

• Starcore International Mines Ltd. approved a non‑brokered private placement for up to $5 million in gross proceeds.
• The offering consists of up to 20 million units at $0.25 per unit, each unit containing one common share and half of a transferable warrant (exercisable at $0.35 per share).
• Proceeds will be used primarily for bulk sampling and development of the Tortilla project in Mexico.

Key Details

• Units Offered: Up to 20 million units @ $0.25 each → maximum gross proceeds $5 million.
• Unit Composition: 1 common share + ½ transferable common share purchase warrant.
• Warrant Terms: Each whole warrant exercisable for two years from issue at $0.35 per share; may be shortened to a minimum of 30 days if the closing price ≥ $0.50 for 10 consecutive trading days after resale restrictions expire.
• Hold Period: Securities subject to a lock‑up of four months plus one day post‑closing.
• Finder’s Fees: Company may pay finder fees in accordance with TSX policies for portions attributable to finders.
• Insider Participation: Certain insiders are permitted to participate in the financing.
• Use of Proceeds: Primarily for bulk sampling and development of the recently announced Tortilla project (referencing prior releases dated July 10 2025 and July 14 2025).
• Regulatory Conditions: Offering subject to TSX acceptance and required regulatory approvals.

Notable Quotes

(No direct quotes were included in the release.)