Star Copper Completes C$3.75 Million First Tranche of Private Placement

Star Copper Corp. announced the completion of the first tranche of its non-brokered private placement, raising C$3,753,141.97. This comprises three offerings: the LIFE Offering, the Unit Offering, and the FT Offering. Under the LIFE Offering, 2 million units were issued at C$0.50 per unit, generating C$1 million. Each unit includes one common share and one warrant.

The Unit Offering resulted in 4,005,000 units being distributed, bringing in C$2,002,500. Similarly, these units also feature common shares and warrants. Meanwhile, the FT Offering sold 1,316,915 shares at C$0.57 each, raising C$750,641.97, with proceeds earmarked for the Star Project in British Columbia.

The company announced the resignation of board member Wes Siemens. No fees were paid in connection with the LIFE and Unit offerings, while a 7% fee was associated with certain FT Offering subscriptions.