Stardust Solar Closes Final Tranche of Non-Brokered Private Placement of Units
Rhea-AI Summary
Stardust Solar (OTCQB:SUNXF, TSXV:SUN) closed the final tranche of its non-brokered private placement, issuing 4,617,600 units at $0.075 for gross proceeds of $346,320. Each unit includes one share and a warrant exercisable at $0.10 for 18 months.
Combined with earlier closings, the placement totals 11,105,079 units and $832,880.93 in gross proceeds. Finder’s fees included $20,605.90 cash and 274,745 finder warrants. An insider bought 266,000 units. Net proceeds are earmarked to repay senior secured convertible debentures, fund a Zambia utility-scale project, and for working capital.
Positive
- Private placement raises gross proceeds of $832,880.93
- Final tranche adds $346,320 from 4,617,600 units at $0.075
- Warrants potentially add capital at $0.10 per share over 18 months
- Net proceeds earmarked to repay senior secured convertible debentures
- Funds allocated to advance utility-scale energy project in Zambia
Negative
- Issuance of 11,105,079 new units increases share count and potential dilution
- Additional overhang from investor and finder warrants exercisable at $0.10
- Insider participation treated as related party transaction under MI 61-101
- All securities subject to a four-month-plus-one-day hold, limiting near-term liquidity
News Market Reaction – SUNXF
On the day this news was published, SUNXF declined 8.90%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - June 26, 2026) - Stardust Solar Energy Inc. (TSXV: SUN) (OTCQB: SUNXF) (FSE: 6330) ("Stardust Solar" or the "Company"), a globally expanding renewable energy company, announces, further to its news releases dated May 13, 2026 and May 29, 2026, that it has completed the final tranche (the "Final Tranche") of its non-brokered private placement (the "Private Placement"). Pursuant to the Final Tranche, the Company issued 4,617,600 units of the Company (the "Units") at
Each Unit consists of one common share in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional Share at a price of
The closing of the initial tranche of the Private Placement, combined with the closing of the Final Tranche, has resulted in a total of 11,105,079 Units issued pursuant to the Private Placement, generating final aggregate gross proceeds of
In connection with the Final Tranche, the Company paid finder's fees to eligible finders consisting of
An insider of the Company participated in the Final Tranche for a total of 266,000 Units. Such participation constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to subsections 5.5(a) and 5.7(1)(a) thereof, as neither the fair market value of any securities issued to such insider nor the consideration paid by such person exceeds
The Company intends to use the net proceeds of the Private Placement to repay the outstanding principal amount and all interest accrued thereon under the outstanding senior secured convertible debenture units of the Company, advance its utility-scale energy project in Zambia, and for general working capital and corporate purposes.
All securities issued in connection with the Final Tranche are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws and the policies of the TSX-V.
About Stardust Solar Energy Inc.
Stardust Solar Energy is a globally expanding renewable energy company supporting the installation, development, training, and deployment of residential, commercial, and utility-scale solar solutions across international markets. The Company operates a diversified solar royalty platform generating recurring revenue through franchise installation operations, accredited training and development licenses and subscriptions, and technology-driven innovation initiatives. Through formal engagement with governments, utilities, and commercial stakeholders, the Company is scaling renewable energy capacity worldwide.
Media and Investor Contacts:
Erica Bearss, MBA, DBA (c)
VP Corporate Communications
investors@stardustsolar.com
www.stardustsolar.com
Stardust Solar Energy Inc.
B101-9000 Bill Fox Way, Burnaby BC V5J 5J3 - Canada
732 S 6th St, STE N, Las Vegas, NV 89101
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The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.
This news release includes certain information and statements about management's view of future events, expectations, plans, and prospects that constitute "forward-looking information" within the meaning of applicable Canadian securities laws (and "forward-looking statements" within the meaning of applicable United States securities laws), including statements relating to the Company's business plans and expected future growth, the anticipated use of net proceeds of the Private Placement, and the Company's ability to advance its utility-scale energy project in Zambia. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements, or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Except as required by applicable securities laws, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information, or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303148