South Star Announces Upsize of Non-Brokered Private Placement

Executive Summary

• South Star Battery Metals Corp. upsized its previously announced non‑brokered private placement from C$6.255 M to up to C$6.672 M (≈US$4.8 M).
• The offering now consists of up to 44,480,000 units at C$0.15 per unit, each unit containing one common share and one warrant (exercise price C$0.20, five‑year term, with acceleration feature).
• Net proceeds will be allocated to exploration & development, general & administrative expenses, and working capital; the company has already closed two tranches for ~C$3.26 M and expects additional closings in the coming weeks.

Key Details

• Upsized Offering Size: C$6,672,000 (US$4,800,000) – increase of C$417,000 over original amount.
• Units Offered: Up to 44,480,000 units at C$0.15 per unit.
• Unit Composition:
• 1 common share
• 1 common share purchase warrant (exercise price C$0.20 per share, five‑year expiry)
• Warrant Acceleration Clause: May be accelerated if, after four months post‑closing, the TSX Venture Exchange closing price ≥ C$0.40 for ten consecutive trading days; company must give 30‑day notice.
• Use of Proceeds: Exploration and development activities, general & administrative expenses, working capital.
• Closing Status to Date: Two tranches closed, gross proceeds ≈ C$3.26 M.
• Future Closings: Anticipated additional tranche(s) in coming weeks, subject to customary conditions and Exchange approval.
• Finder’s Fees: May be paid in cash, finder’s warrants, or shares within Exchange‑permitted limits.
• Statutory Hold Period: Four months and one day from issuance date for all securities issued under the offering.

Notable Quotes

(No direct CEO/President quotes were included in the release.)