Lodestar Metals Closes Final Tranche of Private Placement for Total Proceeds of CAD$1.57M
Lodestar Metals Closes Final Tranche of
Private Placement for Total Proceeds of
CAD$1.57M
Vancouver, British Columbia--(Newsfile Corp. - February 20, 2026) -
Lodestar Metals Corp
.
(TSXV:
LSTR) (OTC Pink: SVTNF)
("
Lodestar
" or the "
Company
"), a junior exploration company focused on
unlocking world class gold potential in Nevada, is pleased to announce it has closed the final tranche of
its previously announced non-brokered private placement financing (the "
Offering
") by issuing
2,700,000 units of the Company ("
Units
") at a price of $0.20 per Unit for gross proceeds of $540,000.
Due to increased investor interest, the Company has increased the size of the Offering, and has issued
a total of 7,850,000 Units at a price of $0.20 per Unit for gross proceeds of $1,570,000 under the entire
Offering.
"We are excited to announce the closing of our oversubscribed financing and are deeply grateful to
both new and existing shareholders who share our conviction in the scale and potential of Goldrun, our
flagship asset,"
said Lowell Kamin, President and CEO of Lodestar Metals. "
This strong show of
support is more than a capital raise - it is a vote of confidence in our strategy, our team, and our vision
to unlock meaningful value in Nevada's premier mining jurisdiction.
With a strengthened balance sheet, we are well-positioned to execute a disciplined and systematic
exploration program at Goldrun as we advance toward our inaugural drill campaign - a pivotal
milestone in our journey toward defining a resource. At the same time, this financing provides us with
the flexibility to pursue additional high-value opportunities across Nevada, building a pipeline of
quality assets designed to deliver long-term growth. We believe we are at the beginning of an exciting
chapter for Lodestar, and we look forward to driving sustained value creation for our shareholders as
we move decisively forward."
Each Unit under the Offering consists of one common share and one common share purchase warrant
("
Warrant
"), with each Warrant entitling the holder to purchase one additional share at a price of $0.30
per share for a period of 18 months from the date of issue.
All securities issued under the Offering, including securities issuable on the exercise thereof, are subject
to a hold period expiring four months and one day from the date of issuance. Under the entire Offering,
the Company paid finders an aggregate of $44,810 and issued a total of 222,700 finder share purchase
warrants. Each finder share purchase warrant is exercisable at $0.20 per share for a period of 18
months from the date of issue.
The proceeds of the Offering will be used for exploration and drilling activities on the Goldrun Property as
well as working capital purposes.
The Company also announces that it has granted 785,000 stock options to its directors, officers and
consultants.
Each stock option is exercisable at $0.20 per share for a period of five years from the date
of grant.
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 release does not constitute an offer for sale of,
nor a solicitation for offers to buy, any securities in the United States.
ABOUT LODESTAR METALS
Lodestar Metals Corp. is a Canadian gold exploration company focused on advancing the drill-ready
Goldrun Project in Nevada, strategically located on a major Carlin-style gold trend and adjacent to some
of the largest gold deposits in North America. With decades of combined geological and capital markets
expertise, Lodestar follows a disciplined, step-by-step approach to discovery. The Company's strategy
is clear: focus capital on high-value targets, move quickly on known mineralization, and build a compliant
gold resource that delivers lasting shareholder value. For more information, please visit
www.lodestarmetals.ca
.
CONTACT
Lodestar Metals Corp.
Lowell Kamin
President, CEO
(416) 272-1241
Forward-Looking Statements
The information set forth in this news release contains forward-looking statements based on
assumptions as of the date of this news release. These statements reflect management's current
estimates, beliefs, intentions, and expectations. They are not guarantees of future performance.
Lodestar cautions that all forward-looking statements are inherently uncertain and that actual
performance may be affected by several material factors, many of which are beyond Lodestar's control.
Such factors include, among other things, risks and uncertainties relating to Lodestar's limited operating
history and the need to comply with environmental and governmental regulations. Accordingly, actual and
future events, conditions and results may differ materially from the estimates.
NEITHER 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/284624