VANCOUVER - South Star Battery Metals Corp. (TSXV:STS) (OTCQB:STSBF) increased its non-brokered private placement from C$4 million to C$4.8 million.
The company will issue up to 32 million common shares at C$0.15 per share. Strong investor demand led to the increase.
First tranche closed: 15,413,333 shares for gross proceeds of C$2.312 million. Second and final tranche expected by May 29, 2026.
Shares have surged 41% year-to-date, trading at $5.28. According to Bond.az analysis, the stock remains undervalued.
First tranche shares were purchased by interim CEO Tiago Cunha, who now controls 38.23% of the company.
Proceeds will fund expansion of the Santa Cruz graphite operation toward 10,000 tonnes per annum.
