Lodestar Metals Corp. Announces Private Placement Offering of $1,500,000
Lodestar Metals Corp. (TSXV: LSTR) (OTC Pink: SVTNF) ("Lodestar" or the "Company"), a junior exploration company focused on unlocking world class gold potential in Nevada, is pleased to announce a non-brokered private placement financing of 7,500,000 units of the Company ("Units") at a price of $0.20 per Unit for gross proceeds of $1,500,000 (the "Offering"). Each Unit under the Offering will consist of one common share and one common share purchase warrant ("Warrant"), with each Warrant entitling the holder to purchase one additional share at a price of $0.30 per share for a period of 18 months from the date of issue.
The Company has engaged Integrity Capital Group Inc. ("Integrity") to act as a finder in connection with the Offering. Integrity may pay a finder's fee to Integrity, being a cash commission of up to 8.0% and 8% in finder's warrants except for investors identified by the Company in which case the fee will be 3.0% cash and 3% finders warrants. Each finder's warrant will be exercisable at $0.20 per share for a period of 18 months from the date of issue.
All securities issued under the Offering, including securities issuable on the exercise thereof, are subject to a hold period expiring four months and one day from the date of issuance.
The proceeds of the Offering will be used for exploration and drilling activities on the Gold Run Property as well as working capital purposes.
The Offering is subject to the acceptance of the TSX Venture Exchange.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.
ABOUT LODESTAR METALS
Lodestar Metals Corp. is a Canadian gold exploration company focused on advancing the drill-ready Goldrun Project in Nevada, strategically located on a major Carlin-style gold trend and adjacent to some of the largest gold deposits in North America. With decades of combined geological and capital markets expertise, Lodestar follows a disciplined, step-by-step approach to discovery. The Company's strategy is clear: focus capital on high-value targets, move quickly on known mineralization, and build a compliant gold resource that delivers lasting shareholder value. For more information, please visit www.lodestarmetals.ca.
CONTACT
Lodestar Metals Corp.
Lowell Kamin
President, CEO
(416) 272-1241
lowell@lodestarmetals.ca
Forward-Looking Statements
The information set forth in this news release contains forward-looking statements based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Lodestar cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by several material factors, many of which are beyond Lodestar's control. Such factors include, among other things, risks and uncertainties relating to Lodestar's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
