Tiago Cunha Announces Acquisition of Shares in South Star Battery Metals Corp.

Rhea-AI Summary

South Star Battery Metals (STSBF)/b) announced that interim CEO, President and director increased his stake through a private placement. The company is conducting a non-brokered Offering of up to 32,000,000 shares at C$0.15 for gross proceeds of up to C$4.8 million.

On May 15, 2026, the first tranche closed, with Cunha acquiring 15,413,333 shares via SPO, bringing his holdings to 41,456,085 shares and 13,900,000 warrants, representing 38.23% ownership on a non-diluted basis and 45.25% on a partially diluted basis.

Positive

• Non-brokered private placement upsized to 32,000,000 shares for up to C$4.8 million
• Interim CEO acquired 15,413,333 shares in first tranche of Offering
• Tiago Cunha’s holdings increased to 41,456,085 shares and 13,900,000 warrants
• Insider ownership now 38.23% non-diluted and 45.25% partially diluted

Negative

• Offering of up to 32,000,000 new shares at C$0.15 implies shareholder dilution

News Market Reaction – STSBF

-1.15%

-1.15% Session close to close

In the May 18 session, STSBF declined 1.15%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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VANCOUVER, British Columbia, May 15, 2026 (GLOBE NEWSWIRE) --  Tiago Sampaio Cunha is the interim CEO, President and director of South Star Battery Metals Corp (the “Company”) whose head office is located at Suite 1507 - 1030 West Georgia St., Vancouver, British Columbia, V6E 2Y3, Canada. Mr. Cunha holds common shares of the Company (the “Shares”) in his personal capacity and through the following funds directed and controlled by Mr. Cunha: GROU SPO FUNDO DE INVESTIMENTO EM ACOES INVESTIMENTO NO EXTERIOR (“SPO”), GROU PROVENCE FUNDO DE INVESTIMENTO EM ACOES INVESTIMENTO NO EXTERIOR, ACE 3 STARS BSIDE FUNDO DE INVESTIMENTO FINANCEIRO EM ACOES, and ACE GLOBAL SPECIAL OPPORTUNITIES BRL FIF EM ACOES.

On May 6, 2026, the Company announced its intention to complete a non-brokered private placement of up to 26,666,667 Shares at a price of C$0.15 per Share for gross proceeds of up to C$4.0 million, which was subsequently upsized on May 15, 2026, to up to 32,000,000 Shares for gross proceeds of up to C$4.8 million (the “Offering”).

On May 15, 2026, the Company closed the first tranche of the Offering (the “First Tranche”). Pursuant to the First Tranche, Mr. Cunha purchased, through SPO, an aggregate of 15,413,333 Shares resulting in Mr. Cunha’s direct and indirect shareholdings in the Company to be 41,456,085 Shares and 13,900,000 common share purchase warrants, increasing Mr. Cunha’s ownership percentage to a total of 38.23% of the issued and outstanding Shares on a non-diluted basis, and 45.25% on a partially diluted basis.

Mr. Cunha may acquire additional securities or dispose of securities of the Company in the future either on the open market, privately or otherwise, depending on market conditions, reformulation of plans, other available investment business opportunities and/or other relevant factors.

The address of Mr. Cunha is c/o Suite 1507 - 1030 West Georgia St., Vancouver, British Columbia, V6E 2Y3, Canada.

A copy of the Early Warning Report will be available under the Company’s profile at www.sedarplus.ca, or may be obtained by contacting Judson Culter at jculter@invictusaccounting.com or 604-343-3889.

FAQ

What share acquisition did Tiago Cunha announce in South Star Battery Metals (STSBF) on May 15, 2026?

Tiago Cunha announced purchasing 15,413,333 shares of South Star Battery Metals in the first tranche. According to the company, these shares were acquired through SPO as part of a non-brokered private placement Offering.

How much of South Star Battery Metals (STSBF) does Tiago Cunha own after the May 2026 transaction?

After the transaction, Tiago Cunha holds 41,456,085 shares and 13,900,000 warrants of South Star Battery Metals. According to the company, this equals 38.23% non-diluted ownership and 45.25% on a partially diluted basis.

What are the terms of the South Star Battery Metals (STSBF) private placement Offering in May 2026?

The Offering is a non-brokered private placement of up to 32,000,000 shares at C$0.15 per share. According to the company, gross proceeds may reach up to C$4.8 million after the upsizing announced on May 15, 2026.

When did South Star Battery Metals (STSBF) close the first tranche of its private placement?

South Star Battery Metals closed the first tranche of its private placement on May 15, 2026. According to the company, this first tranche included the purchase of 15,413,333 shares by interim CEO Tiago Cunha through SPO.

How could the South Star Battery Metals (STSBF) private placement affect existing shareholders?

The private placement involves issuing up to 32,000,000 new shares, which may dilute existing shareholders. According to the company, shares are priced at C$0.15, targeting gross proceeds of up to C$4.8 million if fully subscribed.

Where can investors find the early warning report on Tiago Cunha’s STSBF share acquisition?

Investors can access the Early Warning Report under South Star Battery Metals’ profile on www.sedarplus.ca. According to the company, it may also be obtained by contacting Judson Culter at the provided email or phone number.