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South Star Battery Metals Closes Non-Brokered Private Placement

South Star Battery Metals Corp.is pleased to announce that it has completed a non-brokered private placement of units for a total proceeds of C$2,427,700. The majority of participation in the Placement was with key institutional investors.  Net proceeds from the Private Placement will be used for advanced materials sample preparation, commercial agreements, project finance and general working capital requirements for the Company.

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1 of 21,990

The Private Placement consists of 22,069,999 units priced at C$0.11 per unit (the “Units”). Each Unit consists of one (1) common share and one (1) common share purchase warrant (the “Warrants”). Each Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of C$0.15 per common share for a period of three years from the date of issue. The securities are subject to a four-month hold period from the date of closing and approval by the TSXV, expiring February 26, 2022. In connection with the private placement, the Company paid an aggregate amount of 294,000 in brokers’ warrants in connection with the Placement (equal to 6% of the gross proceeds of the offering sold to subscribers introduced to the Company by the brokers) and $33,660 in cash finders’ fees were paid to certain finders (equal to 6% of the gross proceeds of the offering sold to subscribers introduced to the Company by the finders).

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