South Star Battery Metals Announces Closing of Tranche 2 of Non-Brokered Private Placement
South Star Battery Metals has completed the second tranche of its non-brokered private placement, raising US$1,312,528. Combined with Tranche 1, total gross proceeds reach US$2,120,550.55. The placement consists of 3,052,390 Units at US$0.43 per unit, each including one common share and one purchase warrant exercisable at US$0.89 for 5 years. Insiders participated for US$812,528. Proceeds will fund exploration, development, production activities, and working capital. The company paid finder's fees of US$32,813.20 and issued 61,046 common shares. Units are subject to a four-month hold period and TSX Venture Exchange approval.
South Star Battery Metals ha completato la seconda tranche del suo private placement non intermediarizzato, raccogliendo 1.312.528 USD. Combinata con la Tranche 1, il totale delle entrate lorde raggiunge 2.120.550,55 USD. Il collocamento consiste in 3.052.390 unità a 0,43 USD per unità, ciascuna comprendente un'azione comune e un warrant di acquisto esercitabile a 0,89 USD per 5 anni. Gli insider hanno partecipato con 812.528 USD. I proventi saranno destinati a esplorazione, sviluppo, attività di produzione e capitale operativo. L'azienda ha pagato commissioni di intermediazione di 32.813,20 USD e ha emesso 61.046 azioni comuni. Le unità sono soggette a un periodo di blocco di quattro mesi e all'approvazione della TSX Venture Exchange.
South Star Battery Metals ha completado la segunda fase de su colocación privada sin intermediarios, recaudando 1.312.528 USD. Combinada con la Fase 1, los ingresos brutos totales alcanzan 2.120.550,55 USD. La colocación consiste en 3.052.390 unidades a 0,43 USD por unidad, cada una incluyendo una acción común y una opción de compra que se puede ejercer a 0,89 USD durante 5 años. Los involucrados participaron con 812.528 USD. Los ingresos se destinarán a exploración, desarrollo, actividades de producción y capital de trabajo. La compañía pagó comisiones de intermediación de 32.813,20 USD y emitió 61.046 acciones comunes. Las unidades están sujetas a un periodo de retención de cuatro meses y a la aprobación de TSX Venture Exchange.
South Star Battery Metals는 중개인 없이 진행된 두 번째 사모 배정 단계가 완료되어 1,312,528 달러를 모집하였습니다. 1단계와 결합하여 총 총 수익은 2,120,550.55 달러에 도달합니다. 이번 배정은 3,052,390 단위로, 각 단위는 0.43 달러로, 공통 주식 1주와 5년간 0.89 달러에 행사할 수 있는 구매 보증서 1개로 구성됩니다. 내부자는 812,528 달러를 참여하였습니다. 수익은 탐색, 개발, 생산 활동 및 운영 자본에 사용될 것입니다. 회사는 중개 수수료로 32,813.20 달러를 지급하고 61,046주의 보통주를 발행하였습니다. 단위는 4개월의 보유 기간과 TSX 벤처 거래소의 승인을 받아야 합니다.
South Star Battery Metals a réalisé la deuxième tranche de son placement privé sans courtier, levant 1.312.528 USD. Combinée avec la Tranche 1, les produits bruts totaux atteignent 2.120.550,55 USD. Le placement consiste en 3.052.390 unités à 0,43 USD chacune, chacune comprenant une action ordinaire et un bon de souscription exerçable à 0,89 USD pendant 5 ans. Des initiés ont participé pour un montant de 812.528 USD. Les produits seront utilisés pour l'exploration, le développement, les activités de production et le fonds de roulement. La société a payé des frais de courtage de 32.813,20 USD et a émis 61.046 actions ordinaires. Les unités sont soumises à une période de détention de quatre mois et à l'approbation de la TSX Venture Exchange.
South Star Battery Metals hat die zweite Tranche seiner nicht vermittelte Privatplatzierung abgeschlossen und 1.312.528 USD eingenommen. In Kombination mit Tranche 1 belaufen sich die gesamten Bruttoeinnahmen auf 2.120.550,55 USD. Die Platzierung besteht aus 3.052.390 Einheiten zu 0,43 USD pro Einheit, die jeweils eine Stammaktie und einen Kaufoptionsschein enthalten, der über 5 Jahre zu 0,89 USD ausgeübt werden kann. Insider haben sich mit 812.528 USD beteiligt. Die Mittel werden für Exploration, Entwicklung, Produktionsaktivitäten und Betriebskapital verwendet. Das Unternehmen hat Vermittlungsgebühren in Höhe von 32.813,20 USD gezahlt und 61.046 Stammaktien ausgegeben. Die Einheiten unterliegen einer viermonatigen Haltefrist und der Genehmigung der TSX Venture Exchange.
- Raised significant capital of US$2.12M through private placement
- Strong insider participation with US$812,528 investment
- 5-year warrant term provides long-term financing flexibility
- Dilution of existing shareholders through new share issuance
- Four-month hold period restricts immediate trading of new shares
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / December 19, 2024 / South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV:STS)(OTCQB:STSBF), is pleased to announce that it that it has successfully completed a second tranche of its non-brokered private placement (the "Private Placement") of units (the "Units") for gross proceeds to the Company of US
Tranche 2 of the Private Placement consists of issuing 3,052,390 Units consisting of a common share priced at US
Insiders of the Company participated in the Private Placement for an aggregate amount of
Acceleration Clause
The acceleration clause of the Warrants and Finder's Warrants will provide that, if, during any period of ten (10) consecutive trading days between the date that is four (4) months following the closing of the Private Placement and the expiry of the Warrants and Finder's Warrants, the daily volume weighted average trading price of the common shares of the Company on the TSX Venture Exchange (or such other stock exchange where the majority of the trading volume occurs) is equal to or exceeds US
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About South Star Battery Metals Corp.
South Star is a Canadian battery-metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial- and battery-metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (> 30 tonnes) has been completed. The results of the testing show that approximately
South Star's second project in the development pipeline is strategically located in Alabama, U.S.A. in the center of a developing electric-vehicle, aerospace, and defense hub in the southeastern United States. The BamaStar Project includes a historic mine active during the First and Second World Wars. A NI 43-101 Preliminary Economic Assessment will be filed on SEDAR+. Trenching, Phase 1 drilling, sampling, analysis, and preliminary metallurgical testing have been completed. The testing included a traditional crush/grind/flotation concentration circuit that achieved grades of approximately 94
South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles, based on transparency, stakeholder engagement, ongoing education, and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com.
This news release has been reviewed and approved for South Star by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.
On behalf of the South Star Board of Directors,
MR. RICHARD L. PEARCE,
President & Chief Executive Officer
For additional information, please contact:
South Star Investor Relations
Email: invest@southstarbatterymetals.com
Phone: +1 (604) 706-0212
Website: www.southstarbatterymetals.com
Twitter: https://twitter.com/southstarbm
Facebook: https://www.facebook.com/southstarbatterymetals
LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/
YouTube: South Star Battery Metals - YouTube
CAUTIONARY STATEMENT
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Information
This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to statements regarding moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE: South Star Battery Metals Corp.
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