South Star Battery Metals Upsizes Private Placement to Raise $3.2M

South Star Battery Metals Corp. has announced an increase in its non-brokered private placement, aiming to raise up to $3.2 million due to high demand. This move involves issuing units priced at $0.43 each, with each unit comprising one common share and one warrant. These warrants can be exercised for an additional share at $0.89 over five years. An extension for closure has been granted until January 10, 2025, by the TSX Venture Exchange.

The raised funds will support exploration, development, and construction activities, alongside corporate expenses. The company anticipates insider participation, with certain exemptions applied under relevant securities laws. Additionally, a revised metals purchase agreement with Sprott Private Resource Streaming and Royalty Corp. has been signed.