Original News Release
Dark Star arranges $250,000 private placement
Mr. Marc Branson reports
DARK STAR ANNOUNCES APPOINTMENT OF JAMES SYKES AND NON-BROKERED PRIVATE PLACEMENT
Dark Star Minerals Inc. has appointed James Sykes to its technical advisory team. Mr. Sykes brings over 20 years of uranium and rare earth exploration and discovery experience in Saskatchewan, Canada, with a record that includes NexGen Energy's Arrow, Hathor Exploration's Roughrider, Denison Mines' Gryphon and Baselode Energy Corp.'s Ackio uranium deposit discoveries.
Mr. Sykes is currently the chief executive officer of Metal Energy Corp., and serves as a director for American Eagle Gold Corp., Baselode Energy, Kintavar Exploration Inc. and UraEx Resources Inc.
Marc Branson, president and chief executive officer of Dark Star, commented: "We are thrilled to welcome James to the team. His deep expertise and proven track record in uranium exploration will be invaluable as we continue to build shareholder value through strategic project development."
In connection with his appointment, Mr. Sykes will be granted 500,000 options to purchase common shares of the company each exercisable at five cents per share for a period of two years.
Private placement
Additionally, Dark Star is pleased to announce a non-brokered private placement of up to five million units at a price of five cents per unit for gross proceeds of up to $250,000. Each unit will consist of one common share in the capital of the company and one-half of one share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share at a price of 7.5 cents for a period of two years from the date of issuance.
Proceeds from the offering will be used to advance exploration activities on the company's critical mineral projects and for general working capital purposes.
All securities issued in connection with the offering will be subject to a statutory hold period expiring four months and one day after closing of the offering. Any participation by insiders in the offering will constitute a related-party transaction under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions) but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
About Dark Star Minerals Inc.
Dark Star is a mineral exploration company focused on the acquisition and development of critical mineral resources, specifically the rare earth complex. Dark Star has an option to acquire a 100-per-cent interest in the Ghost Lake claims located in the prolific CMB of Labrador, which consists of 28,575 hectares of contiguous claim blocks, and has signed a definitive agreement to acquire a 100-per-cent interest in the Bleasdell project consisting of over 515 hectares in Northern Saskatchewan, Canada. Dark Star is also party to a definitive agreement to acquire 100 per cent of Critical One Energy Inc.'s interest in the Cobra North and Khan West uranium projects located in Namibia's renowned Erongo uranium province.
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