Blue Star Gold closes $600,000 private placement financing

Blue Star Gold Corp. (TSXV: BAU) (OTCQB: BAUFF) (FSE: 5WP0) completed a non-brokered private placement raising gross proceeds of $600,000, according to a company statement. The financing involved issuing 3,000,000 flow-through common shares at $0.20 per share.

The flow-through shares qualify under Canada's Income Tax Act, with the company planning to renounce expenditures to investors for the taxation year ending December 31, 2025. The shares are subject to a four-month and one day hold period under Canadian securities laws, expiring April 16, 2026.

Blue Star paid a finder's fee of $36,000 cash to a qualified arm's length party in accordance with TSX Venture Exchange policies. The transaction remains subject to final approval from the exchange.

The company stated it intends to use net proceeds from the flow-through shares to incur Canadian exploration expenses on its Nunavut projects prior to December 31, 2026. Additional proceeds will support general working capital purposes.

Blue Star operates mineral exploration and development projects in Nunavut, Canada, with landholdings totaling over 300 square kilometers in the High Lake Greenstone Belt. The company owns the Ulu Gold Project and Roma Project, with a high-grade gold resource at the Flood Zone deposit.

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