Core Points - South Star Battery Metals Corp. has closed the second tranche of its non-brokered private placement, issuing 16,214,234 units at a price of C$0.15 per unit, raising gross proceeds of C$2,432,135 (approximately US$1,749,737) [1][4] - The company plans to use the net proceeds for exploration and development activities, general and administrative expenses, and working capital [3] - The company anticipates closing additional tranches of the Unit Offering in the coming weeks, with total gross proceeds raised under the offering amounting to C$3,260,362 (approximately US$2,345,584) including the first tranche [4] Unit Offering Details - Each unit consists of one common share and one common share purchase warrant, with each warrant allowing the holder to acquire an additional share at C$0.20 for five years [2] - The securities issued are subject to a statutory hold period of four months and one day from the date of issuance [3] - Insiders purchased a total of 4,226,667 units in the second tranche, which is considered a related party transaction [7] Future Plans - A shareholder meeting is scheduled for November 17, 2025, to seek approval for Mr. Tiago Cunha to become a control person of the company [6] - Subject to shareholder approval, Mr. Cunha's funds will complete the purchase of an additional 12,342,088 units, representing a C$2,085,000 (approximately US$1.5 million) investment commitment [6] Company Overview - South Star is focused on developing battery-metals projects in the Americas, with its Santa Cruz Graphite Project in Brazil being the first to enter production [9][10] - The BamaStar Project in Alabama is the second project in development, with strong economic results indicated by a pre-tax NPV of US$2.4 billion and an IRR of 35% [11]