South Star Battery Metals Announces Non-Brokered Private Placement
South Star Battery Metals has announced a non-brokered private placement of common shares at US$0.43 (C$0.60) per share, aiming to raise up to US$2.5 million (C$3.46 million). The company may increase the placement size by up to 15% through an over-allotment option. Proceeds will fund exploration, development, corporate G&A, and working capital. The private placement requires TSX Venture Exchange approval, and shares will have a four-month hold period. Insiders may participate, with exemptions from formal valuation and minority shareholder approval requirements.
South Star Battery Metals ha annunciato un collocamento privato di azioni ordinarie senza intermediari a US$0,43 (C$0,60) per azione, con l'obiettivo di raccogliere fino a US$2,5 milioni (C$3,46 milioni). L'azienda può aumentare la dimensione del collocamento fino al 15% tramite un'opzione di sovrallocazione. I proventi finanzieranno esplorazione, sviluppo, spese generali aziendali e capitale di lavoro. Il collocamento privato richiede l'approvazione della TSX Venture Exchange e le azioni avranno un periodo di blocco di quattro mesi. Gli insider possono partecipare, con esenzioni dai requisiti di valutazione formale e approvazione degli azionisti di minoranza.
South Star Battery Metals ha anunciado una colocación privada no intermediada de acciones ordinarias a US$0,43 (C$0,60) por acción, con el objetivo de recaudar hasta US$2,5 millones (C$3,46 millones). La empresa puede aumentar el tamaño de la colocación hasta un 15% mediante una opción de sobreasignación. Los ingresos se destinarán a exploración, desarrollo, gastos generales corporativos y capital de trabajo. La colocación privada requiere la aprobación de la TSX Venture Exchange, y las acciones tendrán un período de retención de cuatro meses. Los insiders pueden participar, con exenciones de los requisitos de valoración formal y aprobación de los accionistas minoritarios.
South Star Battery Metals는 주당 US$0.43 (C$0.60)에서 보통주 비매개 사모 배정을 발표하며, 최대 US$2.5 백만 (C$3.46 백만)을 모금할 계획입니다. 회사는 초과 배분 옵션을 통해 배정 규모를 최대 15%까지 늘릴 수 있습니다. 수익은 탐사, 개발, 관리비 및 운영자본을 지원하는 데 사용될 것입니다. 이 사모 배정은 TSX Venture Exchange의 승인을 요구하며, 주식은 4개월의 보유 기간이 있습니다. 내부자는 참여할 수 있으며, 공식 평가 및 소수 주주 승인 요건에서 면제됩니다.
South Star Battery Metals a annoncé un placement privé non intermédiaire d'actions ordinaires à US$0,43 (C$0,60) par action, visant à lever jusqu'à US$2,5 millions (C$3,46 millions). L'entreprise peut augmenter la taille du placement jusqu'à 15% grâce à une option de surallocation. Les produits serviront à financer l'exploration, le développement, les frais généraux et le fonds de roulement. Ce placement privé nécessite l'approbation de la TSX Venture Exchange, et les actions auront une période de blocage de quatre mois. Les initiés peuvent participer, avec des exemptions aux exigences de valorisation formelle et d'approbation des actionnaires minoritaires.
South Star Battery Metals hat eine nicht vermittelte Privatplatzierung von Stammaktien zu einem Preis von US$0,43 (C$0,60) pro Aktie angekündigt, mit dem Ziel, bis zu US$2,5 Millionen (C$3,46 Millionen) zu beschaffen. Das Unternehmen kann die Größe der Platzierung um bis zu 15% durch eine Überzuteilungsoption erhöhen. Die Einnahmen werden zur Finanzierung von Exploration, Entwicklung, allgemeinen Verwaltungskosten und Betriebskapital verwendet. Die Privatplatzierung erfordert die Genehmigung der TSX Venture Exchange, und die Aktien haben eine Sperrfrist von vier Monaten. Insidere können teilnehmen, wobei sie von den Anforderungen an formale Bewertungen und der Zustimmung von Minderheitsaktionären befreit sind.
- Potential to raise up to US$2.5 million in new capital
- Option to increase placement size by 15% through over-allotment
- Insider participation indicates management confidence
- Share dilution for existing stockholders
- Four-month hold period restricts share liquidity
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / October 24, 2024 / South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV:STS)(OTCQB:STSBF), is pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement") of common shares (the "Shares") at a price of US
Closing of the Private Placement is subject to customary closing conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the "TSXV"). Proceeds from the Private Placement will be used for exploration, development, corporate G&A and general working capital requirements.
The Company may pay finders' fees to eligible finders, in accordance with applicable securities laws and the policies of the TSXV. The securities issued pursuant to the Private Placement will be subject to a four-month hold period. The Company may, in its sole discretion, exercise an over-allotment option pursuant to which it may increase the size of the Private Placement by up to
Insiders may participate in the Private Placement including subscriptions from related parties of the Company as defined in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The participation of insiders in the Private Placement is exempt from formal valuation and minority shareholder approval requirements pursuant to exemptions contained in sections 5.5(c) and 5.7(1)(a) of MI 61-101.
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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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FAQ
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