Starmet Ventures Announces Convertible Debenture Financing

• Starmet Ventures announced a non-brokered private placement of up to $4,000,000 in unsecured convertible debentures on March 25, 2026.
• The debentures carry a 10% annual interest rate, calculated monthly, with interest payable annually in cash or accrued for conversion.
• Maturity is set at the earlier of two years from issuance or the date the company's securities begin trading on NASDAQ.
• Conversion terms are fixed at $0.35 per unit, with each unit comprising one common share and one warrant exercisable at $0.40 for 24 months from issuance.
• The company may prepay principal and accrued interest without penalty with 14 days' notice.
• Proceeds are designated strictly for general working capital.
• A finder's fee of 8% in cash and 12.5% in units (upon conversion) may be paid to qualifying parties.
• The offering is subject to CSE approval and carries a standard four-month-plus-one-day Canadian statutory hold period.

• The financing is a direct response to a severe liquidity deficit. Interim financials from September 30, 2025, show cash of only $31,295 against a nine-month net loss of $1.45 million.
• The $0.35 conversion price sits above the current trading price of $0.26, which temporarily shields shareholders from immediate dilution. However, if the stock remains below $0.35, the company faces a hard 10% cash interest obligation on up to $4 million, adding ~$400,000 annually to its burn rate.
• The NASDAQ listing maturity trigger is highly speculative given the company's current micro-cap status, lack of revenue, and early-stage exploration focus. This effectively makes the debenture a two-year debt instrument with a high coupon.
• The news is expected and necessary for survival rather than transformative. It does not advance core projects, secure strategic partnerships, or alter the fundamental risk profile. It is a standard working capital raise for a distressed micro-cap.

• Starmet Ventures Inc. (formerly SaveCann Solutions Inc.) operates as a junior exploration and clean energy investment vehicle.
• Flagship Asset: JPL Project, Nevada, USA. The company holds a 100% interest in unpatented mining claims, subject to a 3% production royalty. The property is currently held under an option agreement requiring a $1,000,000 USD payment to secure full ownership.
• Secondary Asset: 30% profit rights in Solterra Renewable Energy Ltd.'s Battery Energy Storage System project in Germany, acquired for $420,000. This remains a passive, non-operating investment with unclear near-term monetization pathways.
• Forfeited Asset: Ear Falls, Ontario (302 claims) was forfeited in August 2025 due to failure to perform required annual assessment work, highlighting execution and capital allocation risks.