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Canstar Completes Early Warrant Exercise Incentive Program with 100% Participation
Newsfileยท 2025-09-26 11:25
Core Points - Canstar Resources Inc. has successfully completed its early warrant exercise incentive program, with 100% of outstanding warrants exercised [1][2] - The program resulted in the issuance of 10,357,369 common shares, generating gross proceeds of $517,868 [2] - A total of 26,665,500 warrants have been exercised since their issuance in January 2024, yielding gross lifetime proceeds of $1,333,275 [2] Incentive Program Details - Each exercised warrant under the program granted the holder an Incentive Warrant, allowing the purchase of one additional share at an exercise price of $0.07 for 12 months [2][9] - The Incentive Warrants include an acceleration provision, allowing the company to expedite their expiry if the share price exceeds $0.10 for ten consecutive trading days [3] - Following the completion of the program, no outstanding warrants remain available for exercise under their existing terms [4] Use of Proceeds - Proceeds from the Incentive Program will be allocated for general working capital purposes [4] Regulatory Information - All Incentive Warrants are subject to a statutory hold period of four months and one day from the date of issuance [5] - The completion of the Incentive Program is pending final acceptance by the TSX Venture Exchange [5] Company Overview - Canstar Resources Inc. is focused on exploring critical minerals and gold in Newfoundland, with significant projects including the Golden Baie Project and the Buchans and Mary March projects [7]