South Star Battery Metals Corp. (TSX-V:STS, OTCQB:STSBF) announced that due to significant demand, it has upsized its previously announced non-brokered private placement of shares at $0.72 each to now raise up to $7 million.
Proceeds from the offering will be used to accelerate exploration, development and construction activities across the company’s portfolio, corporate general and administrative and general working capital requirements.
The company said the TSX Venture Exchange has granted an extension to the closing time of the placement, extending the date for final acceptance to February 29, 2024.
Closing of the private placement is subject to customary conditions, including approval of the TSX Venture Exchange. The company said it may pay a finders’ fee to eligible finders.
South Star Battery Metals is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas.