Western Star increases financing to $3-million

Executive Summary

• Western Star Resources announced an increase to its non‑brokered private placement, targeting up to CAD 3 million in gross proceeds at C$0.15 per unit.
• Each unit consists of one common share and one warrant (exercise price C$0.30, 24‑month term).
• Net proceeds will fund high‑priority drilling at the Western Star project, expansion into Nevada, general working capital, and market awareness initiatives.

Key Details

• Placement Size: Up to 20 million units at C$0.15 per unit → aggregate gross proceeds of up to CAD 3 million.
• Unit Composition: 1 common share + 1 common share purchase warrant.
• Warrant Terms: Right to acquire one additional common share at C$0.30 per share, exercisable for 24 months from issuance.
• Use of Proceeds:
• Define and drill high‑priority targets at the Western Star project (BC).
• Advance critical metals expansion into Nevada.
• General working capital.
• Market awareness activities.
• Approvals Required: Subject to Canadian Securities Exchange approval and execution of formal documentation.
• Stock Option Grant: 150,000 stock options granted to a consultant; exercise price C$0.27 per share; three‑year term from grant date.

Notable Quotes

“We are extremely pleased with the strong interest in this financing, which reflects growing recognition of tungsten and critical minerals as strategic resources in North America… This capital positions Western Star to aggressively advance high‑priority drill targets at our Western Star project while accelerating our expansion into Nevada.” – Blake Morgan, President & CEO.