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Star Copper has appointed Brad Nichol as Chairman of the Board and announced a concurrent $6 million private placement. Nichol, known for his success with Alpha Lithium where he led a $313 million all-cash exit, brings over 25 years of experience in finance and resource sectors.
The financing includes:
- 6 million non-flow-through units at $0.50 per unit ($3M)
- 5.26M flow-through shares at $0.57 per share ($3M)
Funds will primarily advance the company's Star Project in British Columbia, with $2.5M allocated for geological mapping, diamond drilling, environmental studies, and resource modeling. Additional proceeds will support the Indata Project. The company also signed a 12-month marketing agreement with Zimtu Capital for $12,500 monthly under the ZimtuADVANTAGE program.
Star Copper Corp (CSE:STCU) has successfully completed a non-brokered private placement, raising gross proceeds of $2.5 million through the issuance of 10 million units at $0.25 per unit. Each unit comprises one common share and one purchase warrant, exercisable at $0.32 per share within 24 months of issuance.
The funds will be allocated towards project evaluation, working capital, and fulfilling existing property commitments and payables. An insider participated in the offering, subscribing for 200,000 units, which qualified for exemption under MI 61-101 regulations. All securities issued are subject to a four-month statutory hold period.
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