Dark Star arranges $250,000 private placement

Executive Summary

• Dark Star Minerals Inc. announced a non-brokered private placement of up to 5 million units at $0.05 per unit, raising gross proceeds of up to $250,000.
• The company appointed James Sykes to its technical advisory team, granting him 500,000 stock options as part of the appointment.
• Proceeds from the financing will be used for exploration activities on critical mineral projects and general working capital.

Key Details

• Private Placement Structure:
  • Type: Non-brokered private placement.
  • Units: Up to 5,000,000 units.
  • Price: $0.05 per unit.
  • Gross Proceeds: Up to $250,000.
  • Composition: Each unit consists of one common share and one-half of one share purchase warrant.
  • Warrant Terms: Each warrant entitles the holder to acquire one additional share at an exercise price of $0.075 for a period of two years from issuance.
  • Use of Proceeds: Advancing exploration activities on critical mineral projects and general working capital.
  • Hold Period: Statutory hold period of four months and one day after closing.
  • Regulatory Note: Insider participation constitutes a related-party transaction under Multilateral Instrument 61-101 but is expected to be exempt from formal valuation and minority shareholder approval requirements.
• Technical Advisor Appointment:
  • Appointee: James Sykes.
  • Role: Member of the technical advisory team.
  • Experience: Over 20 years in uranium and rare earth exploration in Saskatchewan, Canada; involved in discoveries at NexGen Energy (Arrow), Hathor Exploration (Roughrider), Denison Mines (Gryphon), and Baselode Energy (Ackio).
  • Current Roles: CEO of Metal Energy Corp.; Director of American Eagle Gold Corp., Baselode Energy, Kintavar Exploration Inc., and UraEx Resources Inc.
• Compensation for Appointment:
  • Grant: 500,000 options to purchase common shares.
  • Exercise Price: $0.05 per share.
  • Term: Two years.