Stardust Metal Raises C$5.26M in Private Placement Led by Daniel Earle
Stardust Metal has secured gross proceeds of C$5.26 million through a private placement of 1,595,745 flow-through units at C$0.47, 4,255,319 premium flow-through units at C$0.6486 and 3,723,404 non‐flow‐through units at C$0.47. Mining executive Daniel Earle led the subscribed financing to fund exploration on McGarry and Omega projects and working capital.
1. Private Placement Details
Stardust Metal issued up to 1,595,745 flow-through units at C$0.47 per unit for C$750,000, 4,255,319 premium flow-through units at C$0.6486 for C$2,760,000 and 3,723,404 non‐flow‐through units at C$0.47 for C$1,750,000, raising a total of C$5.26 million. Closings for flow-through and non‐flow‐through units are expected around June 1, with premium flow-through closing around June 11, all subject to customary approvals and a four-month hold period.
2. Strategic Investor Participation
Daniel Earle, President and CEO of Highlander Silver, led the fully subscribed placement, endorsing Stardust Metal’s assets and management team. Chairman Stephen Stewart highlighted Earle’s track record in identifying high-return mining projects as a strong vote of confidence in the company’s exploration strategy.
3. Use of Proceeds
Funds will support drilling and exploration programs on the McGarry and Omega projects in Ontario, as well as general working capital and corporate purposes. Proceeds from flow-through and premium flow-through units will finance qualifying Canadian exploration expenses to be renounced to subscribers by December 31, 2026.
4. Financing and Warrant Terms
Each flow-through and premium flow-through unit comprises one common share and one warrant, with warrants exercisable at C$0.70 for 24 months. Non‐flow‐through units include the same warrant structure. The company plans to complete qualifying expenditures by December 31, 2027, under applicable tax legislation.