Blue Star closes $1.25M first tranche of placement

Executive Summary

• Blue Star Gold Corp. has closed the first tranche of its non-brokered private placement, raising $1.25 million.
• The company issued 5 million flow-through common shares at a price of $0.25 per share.
• Net proceeds are designated for Canadian exploration expenses on Nunavut projects and general working capital.

Key Details

• Transaction Structure: Non-brokered private placement, first tranche closed.
• Gross Proceeds: $1.25 million.
• Shares Issued: 5,000,000 flow-through common shares.
• Price Per Share: $0.25.
• Tax Treatment: Shares qualify as flow-through shares under the Income Tax Act (Canada); expenditures are renounced to investors for the taxation year ending December 31, 2025.
• Finder’s Fees: Total compensation of $75,000 in cash plus 300,000 non-transferable finders' warrants issued to qualified arm's-length parties.
• Warrant Terms: Exercisable at $0.25 per share until November 4, 2027.
• Use of Proceeds:
  • Incur Canadian exploration expenses on projects in Nunavut prior to December 31, 2026.
  • General working capital purposes.
• Hold Period: Four-month hold period pursuant to Canadian securities laws, expiring on March 5, 2026.
• Regulatory Status: Subject to final approval of the TSX Venture Exchange.

Notable Quotes

• None provided in the text.