Blue Star Announces Closing of Non-Brokered Private Placement and Debt Settlements
Blue Star Announces Closing of Non-Brokered
Private Placement and Debt Settlements
Vancouver, British Columbia--(Newsfile Corp. - September 3, 2026) -
Blue Star Gold Corp. (TSXV:
BAU) (OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company")
announces that, further to its
news release of September 1, 2026 it has completed its non-brokered private placement raising gross
proceeds of $800,000 through the issuance of 4,000,000 common shares (each, a "
Share
") at $0.20
per Share (the "
Private Placement
").
The proceeds from the Private Placement will be used for general working capital. No finder's fees were
paid in connection with the Private Placement.
The Company also announces that it has completed its debt settlements issuing an aggregate of
638,993 Shares at a deemed price of $0.20 per Share to extinguish debts owing in the amount of
$127,798.66 (excluding goods and services tax) (the "
Debt Settlements
").
The debts owing relate to past director services provided to the Company by Dr. Georg Pollert from
January 2021 until May 31, 2026 and for unpaid finder's fees owing to an arm's length party from private
placements that closed in May 2025 and July 2026.
Dr. Georg Pollert, a director and controlling shareholder of the Company, is participating in the Private
Placement for 4,000,000 Shares and the Debt Settlements for 388,993 Shares. As a result, the
issuance of these Shares pursuant to the Private Placement and the Debt Settlements is considered a
related party transaction (as defined under Multilateral Instrument 61-101 P
rotection of Minority Security
Holders in Special Transactions
("
MI 61-101
")). The Company relied upon the exemptions from the
formal valuation and minority shareholder approval requirements set out in sections 5.5(a) and 5.7(1)(a)
Fair Market Value not More than 25% of Market Capitalization
, of MI 61-101, respectively.
The Shares issued pursuant to the Private Placement and Debt Settlement are subject to a four-month
and one day hold period pursuant to securities laws in Canada and, where applicable, the Exchange
Hold Period.
The Private Placement and the Debt Settlements remain subject to the final approval of the TSX Venture
Exchange.
About Blue Star Gold Corp.
Blue Star Gold Corp. is a mineral exploration and development company focused on Nunavut, Canada.
The Company controls over 420 square kilometres of highly prospective and underexplored mineral
properties in the High Lake Greenstone Belt. Its principal assets include the Ulu Gold Project -
comprised of the Ulu Mining Lease and Hood River Property, and the Roma and Auma Projects. The Ulu
Mining Lease hosts the high-grade Flood Zone Gold Deposit, and the Company's broader land package
contains numerous high-priority gold and critical mineral targets, providing substantial upside potential
for resource expansion.
Blue Star's projects are strategically located 40-100 km south of the proposed Grays Bay deep-water
port, with the planned all-weather Grays Bay Road corridor passing close to the Company's Projects.
The Grays Bay Road and Port Project was recently referred to the Major Projects Office by Prime
Minister Carney. The Major Projects Office was created to fast-track infrastructure projects that are
deemed to be of national importance.
Blue Star is listed on the TSX Venture Exchange (BAU), the OTCQB Venture Market (BAUFF), and the
Frankfurt Exchange (5WP0). Additional information is available at
www.bluestargold.ca
.
For further information, please contact:
Grant Ewing, P. Geo., CEO
Telephone: +1 778-379-1433
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
Release.
The securities referred to in this news release have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and may not be offered or sold within the
United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an
applicable exemption from the U.S. registration requirements. This news release does not
constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any
securities. Any public offering of securities in the United States must be made by means of a
prospectus containing detailed information about the company and management, as well as
financial statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/312708