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Star Copper Corp
Symbol STCU
Shares Issued 31,281,026
Close 2025-05-15 C$ 0.57
Market Cap C$ 17,830,185
Recent Sedar Documents

Star Copper arranges $1-million LIFE offering

2025-05-16 15:08 ET - News Release

Mr. Darryl Jones reports

STAR COPPER ANNOUNCES $1 MILLION LIFE OFFERING & AMENDMENT TO INDATA PROJECT OPTION AGREEMENT

Star Copper Corp. intends to modify its existing non-brokered private placement (refer to the company's press release of April 29, 2025, for further details) by adding an additional non-brokered private placement for gross proceeds of up to $1-million from the sale of up to two million units of the company at a price of 50 cents per unit under the listed issuer financing exemption (as defined herein). The previously announced flow-through and non-flow-through components of the offering will proceed on the same basis as previously disclosed alongside the new LIFE offering component, and neither the LIFE offering nor the previously announced offering components are conditional upon completion of the other.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant of the company. Each warrant will be exercisable to acquire one common share at a price of 75 cents per warrant share for a period of 12 months from the closing date (as defined below). The warrant shares will be subject to resale restrictions prohibiting the transfer thereof until the date that is four months and one day from the closing date. The warrants to be issued pursuant to the LIFE offering will not be listed for trading on any stock exchange. The LIFE offering is expected to close on or about May 23, 2025, or such other date as determined by the company, such date being no later than 45 days from the date the company issues a press release announcing the LIFE offering.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the LIFE offering is being made to purchasers resident in all provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The securities offered under the listed issuer financing exemption will not be subject to a hold period in accordance with applicable Canadian securities laws; however, the warrant shares will be subject to the warrant share restriction in accordance with their terms.

There is an offering document related to the LIFE offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

No commissions or fees are payable in connection with the LIFE offering.

The company intends to use the net proceeds of the LIFE offering for general working capital purposes and to advance its mineral resource projects, with specific regard to the Indata project (defined below).

Amendment to Indata project option agreement

The company also announces that it has entered into an amending agreement in respect of the option agreement dated June 20, 2018 (as previously amended on May 7, 2019, Nov. 16, 2020, July 6, 2022, March 20, 2023, Jan. 15, 2024, and July 19, 2024), with Eastfield Resources Ltd., pursuant to which the company may acquire a 60-per-cent interest in the Indata copper-gold project, located in northern-central British Columbia.

In accordance with the amending agreement, to earn a 60-per-cent interest in the Indata project, the company must make remaining payments to Eastfield and incur remaining exploration expenditures on the property as follows:

  • Pay $50,000 by June 20, 2025 (up to $20,000 of which may be paid in common shares);
  • Incur $366,186 in exploration expenditures and pay $20,000 by Dec. 31, 2025;
  • Incur $800,000 in exploration expenditures and pay $30,000 by Dec. 31, 2026 (up to $20,000 of which may be paid in common shares).

If the foregoing payments are made and exploration expenditures are incurred, the company will have paid an aggregate of $440,000 (up to $170,000 of which was paid in shares) and incurred $2.7-million in exploration expenditures under the option agreement to earn a 60-per-cent interest in the Indata project.

About Star Copper Corp.

Star Copper is focused on contributing to the green economy by finding and developing copper resource assets in stable jurisdictions. The company is positioned to earn a 60-per-cent interest in the Indata copper-gold project located in northern-central British Columbia. After the acquisition of Cavu Energy Metals, the company has acquired 100 per cent of the Star copper-gold porphyry project in the Golden Triangle of British Columbia as well as the 100-per-cent-owned Quesnel project in the middle of the Quesnel trough, host to a number of alkalic copper-gold porphyry deposits running northwest across western British Columbia.

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