Dark Star Minerals (CSE:BATT) is seeking to raise an additional C$350,000 ($391,625) in a second tranche of its private placement to pursue further exploration opportunities across its existing projects.
Due to investor demand, the company will delegate up to 7 million shares at a cost of C$0.05 per unit, which is expected to close in the coming days.
Dark Star, which has a market capitalisation of C$2.79 million, closed its first tranche with an aggregate C$310,000 from the issue of 6.2 million units at the same exercise price.
Units comprise one share as well as half of one purchase warrant, offering the holder to shares at a fixed price of $0.075 per warrant share for two years from the issue date.
The company intends to use its newfound capital to fund exploration across its current assets, including the Ghost Lake, Logan, and Bleasdell Lake properties.
Dark Star Minerals is a mineral explorer focused on acquiring and developing rare earth projects to supply Canada with a strengthened chain supply of uranium and critical minerals for a sustainable energy future.
Write to Maddison Elliott at Mining.com.au
Images: Dark Star Minerals
