Stardust Solar Provides Update on Recent Non-Brokered Private Placement of Units

Rhea-AI Summary

Stardust Solar (TSXV: SUN, OTCQB: SUNXF) updated the results of its recent non-brokered private placement of units. The company cancelled and returned to treasury 266,666 units that had been issued due to a clerical error in the first tranche.

Following this adjustment, Stardust Solar issued a total of 10,838,413 units for aggregate gross proceeds of approximately $812,880.98. Each unit comprises one common share and one warrant, with each warrant exercisable at $0.10 per share for 18 months. The company also paid eligible finders $46,044.40 in cash and issued 613,778 finder warrants, each exercisable at $0.10 per share for 18 months, in accordance with TSX Venture Exchange policies.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Positive

• Private placement proceeds of approximately $812,880.98 from 10,838,413 units
• Clarified capital structure by cancelling 266,666 erroneously issued units
• Additional potential capital via 10,838,413 warrants exercisable at $0.10 for 18 months

Negative

• Equity dilution from issuing 10,838,413 new shares plus 10,838,413 warrants
• Cash finder's fees of $46,044.40 paid in connection with the placement
• Additional potential dilution from 613,778 finder warrants exercisable at $0.10 for 18 months

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Vancouver, British Columbia--(Newsfile Corp. - July 10, 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, May 29, 2026, and June 26, 2026, that it has cancelled and returned to treasury 266,666 units of the Company (each, a "Subject Unit") issued as a result of a clerical error in connection with the first tranche of the Company's recent non-brokered private placement (the "Private Placement") of units of the Company (each, a "Unit"). As a result, the Company issued 10,838,413 Units for aggregate gross proceeds of approximately $812,880.98 pursuant to the Private Placement.

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 $0.10 per Share for a period of 18 months from the date of issuance.

In connection with the Private Placement, the Company paid finder's fees to eligible finders consisting of $46,044.40 in cash and 613,778 common share purchase warrants (the "Finder Warrants"). Each Finder Warrant entitles the holder to acquire one Share at a price of $0.10 per Share for a period of 18 months from the closing date of issuance, all in accordance with the policies of the TSX Venture Exchange ("TSX-V").

About Stardust Solar Energy Inc.

Stardust Solar Energy Inc. 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 USA
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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/304822

FAQ

What did Stardust Solar (SUNXF) change in its recent non-brokered private placement?

Stardust Solar cancelled 266,666 units issued in error and confirmed 10,838,413 units sold for about $812,880.98. According to Stardust Solar, each unit includes one share and one warrant exercisable at $0.10 for 18 months, adjusting the final placement size.

How much money did Stardust Solar (SUNXF) raise in its latest private placement?

Stardust Solar raised aggregate gross proceeds of approximately $812,880.98 from its non-brokered private placement. According to Stardust Solar, this came from issuing 10,838,413 units, each consisting of one common share and one warrant exercisable at $0.10 per share for 18 months.

What are the terms of the warrants issued in the Stardust Solar (SUNXF) private placement?

Each private placement unit includes one warrant to buy one additional Stardust Solar share at $0.10. According to Stardust Solar, these warrants are exercisable for 18 months from issuance, potentially adding further capital if exercised within that defined timeframe.

Why did Stardust Solar (SUNXF) cancel 266,666 units from its private placement?

Stardust Solar cancelled and returned to treasury 266,666 units that were issued due to a clerical error. According to Stardust Solar, this correction relates to the first tranche of its non-brokered private placement and clarifies the accurate number of units issued.

What finder’s fees did Stardust Solar (SUNXF) pay for the private placement of units?

Stardust Solar paid eligible finders $46,044.40 in cash and issued 613,778 finder warrants as compensation. According to Stardust Solar, each finder warrant allows purchase of one share at $0.10 for 18 months, in line with TSX Venture Exchange policies.

How could the Stardust Solar (SUNXF) private placement affect share dilution?

The placement added 10,838,413 new shares and created 10,838,413 warrants plus 613,778 finder warrants. According to Stardust Solar, all warrants are exercisable at $0.10 for 18 months, which could further increase the share count if exercised.