Stardust Metal Raises $2.5M in First Tranche to Fund McGarry, Omega Drilling
HSLV•Stardust Metal completed the first tranche of its non-brokered private placement, raising $2.5 million through $750,000 in flow-through units and $1.75 million in non-flow-through units. Company insiders acquired 1.55 million NFT units; full $5.26 million proceeds are expected by June 11 to advance McGarry and Omega drilling.
1. Financing Breakdown
Stardust Metal closed its first non-brokered private placement tranche, raising $2.5 million comprised of $750,000 from flow-through units and $1.75 million from non-flow-through units. Each unit includes one common share and one warrant allowing purchase of an additional share at $0.70 for 24 months.
2. Insider Participation
Directors and officers subscribed for a combined 1,545,864 non-flow-through units, representing related-party participation under MI 61-101 exemptions. All securities are subject to a four-month hold period expiring on October 2, 2026.
3. Use of Proceeds
Proceeds from the flow-through portion will fund eligible Canadian exploration expenses at the McGarry and Omega projects through December 31, 2027, while non-flow-through proceeds support drilling programs, working capital, and general corporate purposes.
4. Second Tranche Outlook
The company anticipates completing the premium flow-through portion of the offering in a second tranche by June 11, 2026, subject to approvals and closing conditions, to receive the remaining $2.76 million of the $5.26 million financing originally announced.
