South Star Battery Metals Corp. (TSX-V:STS, OTCQB:STSBF) announced that it has closed an initial tranche of its oversubscribed, upsized non-brokered private placement for gross proceeds of C$4,907,757.80, issuing 6,816,323 shares priced at C$0.72 each.
The proceeds will be used to accelerate exploration and development and for construction activities, corporate costs, and general working capital requirements, the company said.
South Star is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas.