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Blue Star Gold Announces Third Tranche Issuance of Shares Pursuant to Loan Agreement
Newsfileยท 2025-10-24 12:00
Core Points - Blue Star Gold Corp. has issued 98,452 common shares at a price of $0.37 per share as part of a loan agreement with Dr. Georg Pollert, totaling a loan amount of $2,537,434, which includes $2,435,542 as original principal and $101,892.40 as accrued interest [1][2] - The loan has a term of three years and an interest rate of 3% per annum [1] - The issuance of shares is part of a three-tranche loan bonus agreement, with previous issuances completed on October 25, 2023, and October 25, 2024 [2] - The shares are subject to a four-month and one-day hold period under Canadian securities laws [2] - The transaction is classified as a related party transaction, and the company relied on exemptions from formal valuation and minority shareholder approval as the transaction does not exceed 25% of the company's market capitalization [3] Company Overview - Blue Star Gold Corp. is a mineral exploration and development company based in Nunavut, Canada, with landholdings totaling 300 square kilometers in the High Lake Greenstone Belt [4] - The company owns the Ulu Gold Project and the Roma Project, with significant high-grade gold resources identified at the Flood Zone deposit [4] - The company has numerous high-potential exploration targets for gold and critical minerals, indicating strong resource growth potential [4] - A future deep-water port at Grays Bay is located 40 to 100 km north of the properties, with a proposed all-weather road corridor passing near the Roma and Ulu Gold Projects [4]