Lodestar Metals Corp Stock Price, News & Analysis

Lodestar Metals Corp (TSXV: LSTR) (OTCQB: SVTNF) has reached a settlement agreement with Silver One Resources to resolve a $1,250,000 debt obligation. The debt originated from a share purchase agreement dated November 19, 2020, and promissory notes from March 2, 2021.

Under the settlement terms, Lodestar will pay Silver One $50,000 in cash and issue 3,000,000 common shares at a deemed price of $0.05 per share. The newly issued shares will have a four-month resale restriction period. The transaction requires final approval from the TSX Venture Exchange.

Lodestar Metals Corp (TSXV: LSTR) (OTCQB: SVTNF) announces arrangements for its upcoming annual general meeting scheduled for December 31, 2024, at 10:00 a.m. via telephone conference. Due to the ongoing Canadian postal workers' strike that began November 15, 2024, the company will rely on CSA Coordinated Blanket Order 51-913 for exemption from sending physical proxy materials.

Shareholders will vote on: setting director numbers, electing directors, and appointing auditors. Meeting materials are available on SEDAR+ and the company's website. Registered and non-objecting beneficial shareholders can contact Endeavor Trust for voting materials, while objecting beneficial shareholders should contact their brokers for voting instructions.

Lodestar Metals (TSXV: LSTR) (OTCQB: SVTNF) has terminated its investor relations agreement with Grant Galloway, effective immediately. The decision was made after careful consideration of the company's strategic direction and challenges in meeting the agreement's terms. The agreement, which began on June 10, 2024, faced difficulties in establishing clear terms and expectations despite multiple efforts by Lodestar since July 1, 2024.

CEO Lowell Kamin stated that the decision aligns with the company's growth and shareholders' best interests. Lodestar remains committed to enhancing shareholder value and will explore alternative options for effective communication with stakeholders and the investment community. The company continues to focus on its core business of exploring and developing its property portfolio, including the Peny Property.

Lodestar Metals Corp. has officially changed its name from Lodestar Battery Metals Corp. effective September 4, 2024. The company's shares will continue to trade under the symbol TSXV: LSTR and OTCQB: SVTNF on the TSX Venture Exchange. The new CUSIP number for the common shares will be 54020J101. Note that shareholders do not need to take any action; existing certificates will remain valid.

Lodestar Battery Metals (TSXV: LSTR) (OTCQB: SVTNF) has appointed David W. Christie, P. Geo., as Strategic Advisor. Christie brings 38 years of experience in mining and finance, with a track record of successful company creation, acquisitions, and financing. His notable achievements include leading Orford Mining Corp to a 134% premium acquisition and facilitating a five-way merger for Eagle Hill Exploration Corp at a 258% premium.

The company has granted Christie options to purchase 400,000 common shares at $0.05 per share, fully vested with a five-year expiration. Additionally, Lodestar plans to change its name to 'Lodestar Metals Corp.' to better reflect its focus on base and precious metals properties, subject to TSX Venture Exchange approval.

Lodestar Battery Metals (TSXV: LSTR, OTCQB: SVTNF) has appointed Kyle Appleby as its new Chief Financial Officer, succeeding Killian Ruby. Appleby brings over 20 years of extensive experience in financial reporting, IPOs, fundraising, and corporate governance.

Additionally, Scott Margach has resigned as Executive Vice President but will remain as an independent director. Gary Prihar and Killian Ruby have also resigned as directors, leaving the board with three members: Lowell Kamin, Scott Margach, and Leo Horn, with Margach and Horn being independent.

The company has also granted options to purchase 800,000 common shares at $0.05 per share, fully vested and expiring in five years.

Lodestar Battery Metals (TSXV: LSTR, OTCQB: SVTNF) has provided a corporate update highlighting its upcoming exploration plans, grant receipts, and a new investor relations agreement.

The company plans an electromagnetic geophysical survey on its Peny Property, adjacent to Hudbay's BUR zone, which contains significant mineralization. The survey is set for summer 2024.

Lodestar received a $61,862 grant payment from the Manitoba Mineral Development Fund to support its exploration work.

It also engaged Grant Galloway for investor relations services at $25,000 per month for three months. The agreement can be terminated by either party under specific conditions.

Qualified Person Ty Magee has verified the scientific and technical details in the release.