South Star Battery Metals Corp. (TSX-V:STS, OTCQB:STSBF) announced that it intends to complete a non-brokered private placement to raise up to C$5 million at a price of C$0.72 per share.
The battery metals project developer said proceeds from the offering will be used for accelerating exploration, development, construction activities, corporate general and administrative (G&A) expenses and general working capital requirements.
South Star noted its management believes the private placement will be fully subscribed.