Starcore's tranche 2 of placement oversubscribed

Executive Summary

• Starcore International Mines closed Tranche 1 of its $5 million private placement, raising $2.66 M in gross proceeds.
• The tranche consisted of 10,647,155 units (each unit = 1 common share + 0.5 warrant), plus 183,680 finder‑issued warrants.
• The offering was oversubscribed; Tranche 2 is also largely oversubscribed and the company will not accept further subscriptions.

Key Details

• Financing Structure: Private placement of units; each unit comprised one common share and one-half warrant.
• Units Issued: 10,647,155 units (10,647,155 common shares + 5,323,577 warrants).
• Finder Warrants: Additional 183,680 warrants issued to finders for their role in the financing.
• Gross Proceeds: $2,661,788.75 received on September 26, 2025 for Tranche 1.
• Oversubscription: Both Tranche 1 and Tranche 2 were oversubscribed; investors from seven countries participated.
• Subscription Status: No further subscriptions will be accepted for this offering.
• Future Updates: Company will issue a subsequent news release once the oversubscribed offering is reconciled and pre‑cleared for final closing.

Notable Quotes

“With tranche 2 largely oversubscribed, we are very pleased to have received the support from so many investors from seven different countries wanting to participate in this financing,” – Robert Eadie, President & CEO.

Materiality Assessment: Material – Positive (significant capital raise that enhances liquidity and supports ongoing operations).