Lodestar Metals Announces $500,000 Private Placement, Strategic Share Consolidation and Strengthened Leadership Team

Core Viewpoint - Lodestar Metals Corp. is undertaking a private placement of up to C$500,000 to strengthen its balance sheet and enhance its exploration efforts in Nevada's gold sector [1][2][3] Private Placement Details - The company plans a non-brokered private placement of up to 6,666,666 post-consolidation units at a price of C$0.075 per unit, aiming for gross proceeds of up to C$500,000 [1][7] - Each post-consolidation unit will consist of one common share and one-half share purchase warrant, with the warrant allowing the purchase of an additional share at $0.12 for two years [2][3] Share Consolidation - Lodestar will consolidate its shares at a ratio of two pre-consolidated shares to one post-consolidated share, reducing the total from 47,336,500 to 23,668,250 shares [4][5][7] - The consolidation aims to improve the capital structure and attract long-term investors [4][7] Leadership Team Enhancement - The company has appointed Randene Seeman as a new Director and Doug Engdahl as a Strategic Advisor, enhancing the leadership team's expertise [8][9] - Seeman brings over 25 years of experience in mining and resource sectors, while Engdahl has over 20 years of geological experience [9][12][13] Use of Proceeds - Proceeds from the private placement will be allocated for exploration and drilling on the Goldrun Project in Nevada, as well as for working capital [3][16] Engagement of Financial Advisor - Lodestar has engaged Jemini1 Finance Inc. for investor outreach and financing support, with a four-month term and a monthly fee of C$5,000 [14]