Starcore Reports Oversubscribed $5 Million Financing

Executive Summary

• Starcore International Mines announced that its $5 million private placement, launched on August 25 2025, was oversubscribed.
• Tranche 1 closed on September 26 2025, raising gross proceeds of $2,661,788.75 through the issuance of 10,647,155 Units (each Unit = 1 common share + 0.5 warrant).
• An additional 183,680 warrants were issued to finders for their role in securing financing; Tranche 2 is also largely oversubscribed and will be closed after reconciliation.

Key Details

• Financing Structure: Private placement consisting of Units (common shares plus warrants).
• Units Issued – Tranche 1: 10,647,155 Units = 10,647,155 common shares + 5,323,577 warrants.
• Finder Warrants: 183,680 warrants issued to finders for their contribution to the financing.
• Gross Proceeds (Tranche 1): $2,661,788.75.
• Oversubscription Status: Both Tranche 1 and Tranche 2 were oversubscribed; Tranche 2 subscriptions are now closed to new investors.
• Investor Base: Subscriptions received from investors in seven different countries, indicating broadened global reach.
• Next Steps: Company will reconcile the offering, obtain pre‑clearance for closing, and issue a subsequent news release with final details.

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.
“Unfortunately, we are no longer able to accept subscriptions for this offering. We look forward to welcoming new shareholders whose participation reflects Starcore's broadening global reach.” – Robert Eadie

Materiality Assessment: Material – Positive (significant capital raise that enhances liquidity and demonstrates strong investor demand).