Due to high investor demand, Dark Star Minerals (CSE:BATT) has boosted its private placement to raise a total of C$350,000 ($384,848) to strengthen its cash balance.
The company will issue 7 million units at C$0.05 per unit, which comprises one share and one-half purchase warrant.
Each full warrant entitles the holder to purchase one additional share at C$0.075 within two years of the placement closing.
In the first tranche, Dark Star has issued 2.05 million units to raise the initial $102,500, which will be used for general capital.
As previously reported by Mining.com.au, the company was initially looking to raise $250,000 ahead of conducting exploration across its portfolio of assets.
Dark Star is currently under a definitive agreement with Critical One Energy (CSE:CRTL) to acquire the Cobra North and Khan West projects in Namibia, holding a tenure of two years.
The company is focused on strengthening Canada’s sustainable energy output through the exploration of uranium and critical minerals required for clean energy solutions.
Write to Maddison Elliott at Mining.com.au
Images: Dark Star Minerals
