Lodestar Metals Closes Final Tranche of Private Placement for Total Proceeds of CAD$1.57M

Core Viewpoint - Lodestar Metals Corp. has successfully closed the final tranche of its non-brokered private placement financing, raising a total of $1,570,000 through the issuance of 7,850,000 units at a price of $0.20 per unit, reflecting strong investor interest in the company's flagship Goldrun asset [1][2]. Financing Details - The final tranche involved the issuance of 2,700,000 units, contributing to gross proceeds of $540,000 [1]. - The total offering size was increased due to heightened investor demand, resulting in a total of 7,850,000 units issued [1]. - Each unit consists of one common share and one common share purchase warrant, with warrants allowing the purchase of additional shares at $0.30 for 18 months [3]. Use of Proceeds - Proceeds from the offering will be allocated towards exploration and drilling activities on the Goldrun Property, as well as for working capital purposes [5]. - The company has also granted 785,000 stock options to directors, officers, and consultants, exercisable at $0.20 per share for five years [5]. Company Strategy and Outlook - The company aims to execute a disciplined exploration program at Goldrun, marking a pivotal milestone towards defining a resource [3]. - With a strengthened balance sheet, Lodestar is positioned to pursue additional high-value opportunities across Nevada, aiming for long-term growth [3]. - The management expresses confidence in the company's strategy and vision to unlock value in Nevada's premier mining jurisdiction [2].