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2 stories mentioning HSLV.CNUpdated 11d ago

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Mining & Metals

Stardust Metal Raises $5.26 Million in Total After Closing Final Tranche of Financing Led by Daniel Earle

Stardust Metal (ZIGY.CN) on Friday said it closed the final tranche of a non-brokered private placement of lflow-through shares, raising $5.26 million in total.The second, final tranche consisted of 4.3-million premium flow-through units (PFT units) priced at $0.6486 apiece, for about $2.8 million. With the completion of the second tranche, Stardust has now completed the offering, consisting of flow-through units, premium flow-through units and non-flow-through units.Each PFT unit consisted of a tax-advantaged share and a two-year warrant to buy a share for $0.70.Proceeds of the PFT units will be used to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" related to the company's projects in Ontario. Proceeds of the offering will be used to fund its drilling and exploration programs on McGarry and Omega and for working capital and general corporate needs.Shares of the company were last seen down $0.02 to $1.15 on the Canadian Securities Exchange.Price: $1.15, Change: $-0.02, Percent Change: -1.71%

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Mining & Metals

Stardust Metal Up 20% On Launching $5.3 Million Private Placement Led by Strategic Investor Daniel Earle

Stardust Metal (ZIGY.CN) shares up 20% after launching a non-brokered private placement of flow-through units (FT units), premium flow-through units (PFT units), and non-flow-through units (NFT units) of the company for proceeds of up to $5.3 million, it said on Friday.Daniel Earle, who currently serves as the President and Chief Executive of Highlander Silver (HSLV.TO, HSLV), is leading this placement. The company intends to issue up to 1.6-million FT units at $0.47 per FT unit for up to $750,000, up to 4.3-million PFT units at $0.6486 per PFT unit for up to $2.8 million, and up to 3.7-million NFT units at $0.47 per NFT unit for up to $1.8 million.Each FT unit and each PFT unit will consist of one common share and one common share purchase warrant. The FT unit shares and FT unit warrants comprising either the FT units or PFT units will be issued as "flow-through shares".The company said each FT unit warrant will entitle the holder to buy a share for $0.70 for a two-year period from the date of issuance of the FT units. Each NFT unit will consist of one common share and one common share purchase warrant, with each warrant entitling the holder to buy a share for $0.70 for a two-year period from the date of issuance of the NFT units.Proceeds of the FT units and each PFT unit will be used to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the Tax Act related to the company's projects in Ontario, Canada. Closing of the FT units and NFT units is expected to occur on or about June 1.Closing of the PFT units is expected to occur on or about June 11. Proceeds of the offering will be used to fund its drilling and exploration programs on McGarry and Omega and for working capital and general corporate needs.Shares of the company were last seen up $0.12 at $0.72 on the Canadian Securities Exchange.Price: $0.72, Change: $+0.12, Percent Change: +20.00%

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