Blue Star Gold closes final tranche of flow-through private placement

Blue Star Gold Corp. (TSXV: BAU) (OTCQB: BAUFF) (FSE: 5WP0) has closed the final tranche of its non-brokered private placement of flow-through common shares, raising an additional $812,500 through the issuance of 3,125,000 shares at $0.26 per share, according to a company statement.

Combined with the first tranche, the total aggregate proceeds from the private placement reached $3,953,500.62, comprising flow-through shares at $0.26 each and units at $0.24 each. The closing remains subject to final approval from the TSX Venture Exchange.

The company said proceeds will be used to fund eligible Canadian exploration expenses, classified as flow-through mining expenditures under the Income Tax Act (Canada), related to its projects in Nunavut. Blue Star said it will renounce qualifying expenditures with an effective date no later than December 31, 2027, and incur such expenses by the same date.

All securities issued carry a four-month and one day hold period under Canadian securities law, expiring October 20, 2026. The company paid total cash finder's fees of $56,550 in connection with the private placement, including $900 tied to the first tranche closing of the unit portion. No further tranches of the unit placement are planned.

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