Lodestar Metals Closes Final Tranche of Private Placement for Total Proceeds of CAD$1.57M

Executive Summary

• Lodestar Metals Corp. closed the final tranche of its non‑brokered private placement, issuing a total of 7,850,000 units at $0.20 per unit for gross proceeds of $1,570,000.
• The financing includes common shares and warrants (one warrant per unit, exercisable at $0.30 for 18 months) and provides funds to advance exploration and drilling on the Goldrun property and for working capital.
• The company also granted 785,000 stock options to directors, officers and consultants at an exercise price of $0.20 per share (five‑year term).

Key Details

• Units Issued: 7,850,000 total (2,700,000 in final tranche) at $0.20 per unit.
• Gross Proceeds: $1,570,000 (final tranche contributed $540,000).
• Unit Composition: Each unit = 1 common share + 1 common share purchase warrant.
• Warrant Terms: Exercise price $0.30 per share; exercisable for 18 months from issuance.
• Hold Period: All securities subject to a hold period of four months and one day from issuance.
• Finder Compensation: $44,810 paid to finders; 222,700 finder warrants issued (exercise price $0.20, 18‑month term).
• Use of Proceeds: Exploration and drilling on the Goldrun Property; general working capital.
• Stock Option Grant: 785,000 options granted to directors/officers/consultants; exercise price $0.20 per share; five‑year expiration.

Notable Quotes

“We are excited to announce the closing of our oversubscribed financing and are deeply grateful to both new and existing shareholders who share our conviction in the scale and potential of Goldrun, our flagship asset,” – Lowell Kamin, President & CEO.

All forward‑looking statements are subject to risks and uncertainties detailed in the release.