South Star Battery Metals Announces Repricing Warrant of Non-Brokered Private Placement

Core Viewpoint - South Star Battery Metals Corp. is initiating a non-brokered private placement to raise up to US$2 million, with each unit priced at US$0.22, consisting of one common share and one warrant for a five-year exercise period [1][2]. Group 1: Private Placement Details - The private placement aims to raise gross proceeds of up to US$2 million (C$2,744,600) [1]. - Each unit will include one common share and one warrant, with the warrant allowing the purchase of one common share at an exercise price of US$0.22 (C$0.3019) [1]. - The closing of the private placement is contingent upon customary conditions, including TSX Venture Exchange approval [2]. - Proceeds will be allocated for exploration, development, corporate general and administrative expenses, and general working capital [2]. - The company may pay finders' fees to eligible finders and has the option to increase the placement size by up to 15% [3]. Group 2: Insider Participation and Warrant Terms - Insiders may participate in the private placement, with exemptions from formal valuation and minority shareholder approval due to the transaction's market capitalization not exceeding 25% [4]. - The warrants will include an acceleration clause, allowing the company to expire unexercised warrants if the trading price exceeds C$1.25 for ten consecutive trading days [5]. Group 3: Company Overview and Projects - South Star Battery Metals Corp. focuses on developing battery metals projects in the Americas, with the Santa Cruz Graphite Project in Brazil being the first to enter production [7]. - The Santa Cruz project has shown promising results, with over 65% of graphite concentrate being +80 mesh and 95%-99% graphitic carbon [7]. - The BamaStar Project in Alabama is strategically located in a developing electric vehicle and aerospace hub, with a pre-tax NPV of US$2.4 billion and an IRR of 35% [8]. - The company has received a US$3.2 million grant from the US Department of Defense to advance the BamaStar project feasibility study [9].