Source: Daily Advent
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  • South Star Battery Metals (STS) has announced a non-brokered private placement for proceeds of $2,000,000
  • South Star will issue approximately 13,333,333 units priced at C$0.15 per unit
  • The company is consolidating its common shares on the basis of one post-consolidation share for every five pre-consolidation shares
  • South Star Battery Metals is a Canadian battery-metals project developer
  • South Star Battery Metals Corp. (STS) opened trading at C$0.14 per share

South Star Battery Metals (STS) has announced a non-brokered private placement for proceeds of $2,000,000.

South Star will issue approximately 13,333,333 units priced at C$0.15 per unit. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of $0.25 for a period of five years.

The offering is subject to an over-allotment option and an acceleration clause.

All securities will be issued on a post-consolidation basis and subject to a four-month hold period.

The company also announced plans to consolidate its common shares on the basis of one post-consolidation common share for every five pre-consolidation common shares. 

South Star Battery Metals is a Canadian battery-metals project developer focused on acquiring and developing near-term projects in the Americas. 

South Star Battery Metals Corp. (STS) opened trading at C$0.14 per share.

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