Blue Star Gold closes $947,631 non-brokered private placement

Blue Star Gold Corp. (TSXV: BAU) (OTCQB: BAUFF) (FSE: 5WP0) has closed a non-brokered private placement, raising gross proceeds of $947,631.62 through the issuance of 3,644,737 charitable flow-through units at $0.26 per unit, according to a company statement.

Each unit consists of one flow-through common share and one-half of one transferable warrant, with each whole warrant exercisable at $0.30 per share for 24 months from the closing date. The placement remains subject to final approval from the TSX Venture Exchange.

The flow-through shares qualify under Canada's Income Tax Act, with the company set to renounce related expenditures to investors for the taxation year ending December 31, 2026. All issued securities are subject to a four-month and one-day hold period expiring November 18, 2026.

In connection with the placement, Blue Star paid $30,000 in cash finder's fees and issued 157,894 finder's warrants to an arm's length finder. The finder's warrants are non-transferable and exercisable at $0.30 per share until the same expiry date as the unit warrants.

The company said it intends to use net proceeds to incur Canadian exploration expenses on its projects in Nunavut before December 31, 2026.

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