Dark Star Minerals (CSE:BATT) is conducting a private placement to raise C$250,000 ($274,184.27) for exploration activities across its project portfolio, while the company restructures its technical advisory team.
The company will issue up to 5 million units at a price of C$0.05 per unit, each consisting of one share and one-half purchase warrant.
Warrants entitle the holder to purchase an additional share at a fixed price of C$0.075 per share across a two year period from the issue date.
Funding will be deployed for exploration across its portfolio of assets, including Ghost Lake, Logan Property, Bleasdell Lake, as well as the Cobra North and Khan West properties, spreading the company’s claims across Canada and Namibia.
This comes in time for the appointment of Jame Sykes on Dark Star’s technical advisory team.
Sykes has accumulated more than 20 years of experience in uranium and rare earth exploration in Saskatchewan, working on discoveries such as Arrow by NexGen Energy (TSE:NXE), Roughrider by Hathor Exploration, and Gryphon by Denison Mines (TSX:DML).
He is currently acting as CEO for Metal Energy (TSX-V:MERG), while also serving on the board of American Eagle Gold (TSX-V:AE), Baselode Energy (TSX-V:FIND), Kintavar Exploration (TSX-V:KTR), and UraEx Resources.
Dark Star CEO Marc Branson says the company is thrilled to welcome Sykes on board.
“His deep expertise and proven track record in uranium exploration will be invaluable as we continue to build shareholder value through strategic project development,” Branson says.
Sykes will obtain 500,000 options to acquire shares exercisable at C$0.05 per share across a two year period in conjunction with his appointment.
Dark Star Minerals is an explorer focused on acquiring and developing critical mineral resources in Canada and Namibia.
Write to Maddison Elliott at Mining.com.au
Images: Dark Star Minerals
