Farstarcap QT target BP Exploration closes financing

Executive Summary

• Farstarcap Investment Corp. announces the completion of a $2.5 million private placement financing by its target, BP Exploration Corp. (BPEx), which serves as a condition precedent for the regulatory approval of their proposed three-cornered amalgamation.
• The acquisition is expected to close on or about September 23, 2025, subject to TSX Venture Exchange acceptance and shareholder approval.
• Upon completion, Farstarcap will resume trading under the new symbol BPAG.

Key Details

• Financing Amount: Gross proceeds of $2,499,995 (approximately $2.5 million).
• Instrument Issued: 16,666,633 subscription receipts issued at a price of $0.15 per subscription receipt.
• Warrant Terms (Financing): Each subscription receipt entitles the holder to one BPEx share and one-half of one BPEx share purchase warrant. Each warrant is exercisable at $0.20 per share for a period of two years from the date of issue.
• Finder’s Fees: BPEx paid finders a fee of $111,736.
• Finder’s Warrants: A total of 9,021,274 share purchase warrants were issued to finders (including 687,960 broker warrants), exercisable at $0.20 per share for a period of two years.
• Transaction Structure: The financing was completed in conjunction with the announcement that Farstarcap will acquire all issued and outstanding securities of BPEx via a three-cornered amalgamation.
• Regulatory Condition: Completion of this financing was a condition precedent to receiving regulatory approval regarding qualifying transaction requirements.
• Closing Date: Parties expect to close the acquisition on or about September 23, 2025.
• Trading Symbol: Shares will resume trading under the new symbol BPAG upon completion.
• Conditions Precedent to Closing: TSX Venture Exchange acceptance and majority of the minority shareholder approval (where applicable).

Notable Quotes

• None provided in the text.