Blue Star Announces $2M Non-Brokered Private Placement

Core Viewpoint - Blue Star Gold Corp. plans to raise up to $2,000,000 through a non-brokered private placement, subject to TSX Venture Exchange approval, by issuing flow-through units and regular units at specified prices [1][4]. Group 1: Private Placement Details - The private placement will consist of up to 3,333,333 flow-through units at $0.15 each and up to 10,714,285 units at $0.14 each [1]. - Each flow-through unit includes one common share and one-half of a common share purchase warrant, while each unit consists of one common share and one-half of a common share purchase warrant [2][3]. - The warrants allow the holder to acquire one additional share at a price of $0.20 for one year following the closing date of the private placement [3]. Group 2: Use of Proceeds - Proceeds from the sale of units will be allocated for general working capital, while proceeds from flow-through units will be used for eligible Canadian exploration expenses related to the company's projects in Nunavut [4]. - The company will renounce qualifying expenditures by December 31, 2025, amounting to at least the total gross proceeds raised from the issuance of flow-through units [5]. Group 3: Company Overview - Blue Star Gold Corp. is focused on mineral exploration and development in Nunavut, Canada, with landholdings totaling 300 square kilometers in the High Lake Greenstone Belt [6]. - The company owns the Ulu Gold Project and the Roma Project, with significant high-grade gold resources and numerous exploration targets [6]. - The future deep-water port at Grays Bay is located 40-100 km north of the properties, enhancing logistical advantages for the company's projects [6].