Blue Star Announces Non-Brokered Private Placement and Proposed Debt Settlement
Blue Star Announces Non-Brokered Private
Placement and Proposed Debt Settlement
Vancouver, British Columbia--(Newsfile Corp. - September 1, 2026) -
Blue Star Gold Corp. (TSXV:
BAU) (OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company")
announces that, subject to
the approval of the TSX Venture Exchange (the "
Exchange
"), it intends to complete a non-brokered
private placement to raise gross proceeds of up to $800,000 through the issuance of up to 4,000,000
common shares (each, a "
Share
") at $0.20 per Share (the "
Private Placement
").
The Company intends to use the proceeds from the Private Placement for general working capital. No
finder's fees will be paid in connection with the Private Placement.
The Company also announces that, subject to the approval of the Exchange, it intends to complete debt
settlements through the issuance of an aggregate of 638,993 Shares at a deemed price of $0.20 per
Share to settle debts owing pursuant to past director services provided to the Company and for unpaid
finder's fees owing to an arm's length party for a total amount of $127,798.66 (excluding goods and
services tax) (the "
Debt Settlements
").
Dr. Georg Pollert, a director and controlling shareholder of the Company, is participating in the Private
Placement and the Debt Settlements. 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 will be subject to a four-
month and one day hold period pursuant to securities laws in Canada and, where applicable, the
Exchange Hold Period.
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.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES
DESCRIBED HEREIN
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/312459