Western Star Resources Inc. Closes First Tranche of Private Placement

Core Viewpoint - Western Star Resources Inc. has successfully closed the first tranche of a non-brokered private placement, raising gross proceeds of CAD$394,400 through the issuance of 2,629,333 units at a price of $0.15 per unit [1][2]. Group 1: Private Placement Details - Each unit consists of one common share and one share purchase warrant, which can be exercised at an exercise price of $0.30 per share, expiring on June 11, 2027 [2]. - The warrants include an acceleration clause that allows the company to shorten the exercise period if the share price reaches CAD$0.40 for 10 consecutive trading days [2]. - A finder's fee of $5,500 in cash was paid to Ventum Financial Corp for this placement [2]. Group 2: Use of Proceeds - The net proceeds from the private placement will be utilized to define high-priority drill targets at the Western Star Project, as well as for general working capital and market awareness [3]. Group 3: Consulting Agreement - The company has entered into a consulting services agreement with Capitaliz On It, a digital marketing agency, to enhance investor awareness and attract new investors [4]. - The agreement has an initial term of 3 months with a marketing budget of CAD$110,000, pending approval from the Canadian Securities Exchange [5]. - Services provided by Capitaliz will include developing a corporate marketing strategy and various digital marketing efforts [5]. Group 4: Company Overview - Western Star Resources Inc. is focused on mineral exploration and development, aiming to increase shareholder value through cost-effective exploration practices and partnerships [9]. - The company owns nine contiguous mineral claims totaling 2,797 hectares located in the Revelstoke mining division of British Columbia [9].