en.Wedoany.com Reported - Canadian mineral exploration company Blue Star Gold Corp. announced that, subject to final approval from the TSX Venture Exchange, it has completed the final tranche of a non-brokered private placement of flow-through common shares (FT Shares), raising additional gross proceeds of C$812,500 through the issuance of 3,125,000 FT Shares at C$0.26 per share. Together with the previous tranches, the company issued FT Shares at C$0.26 per share and units at C$0.24 per unit, raising total gross proceeds of C$3,953,500.62. The company also clarified that it will not complete any subsequent tranches of the unit private placement.

Each FT Share qualifies as a "flow-through share" under subsection 66(15) of the Canadian Income Tax Act. The proceeds from the private placement will be used for the company's projects in Nunavut, generating qualifying "Canadian exploration expenses" that meet the definition of "flow-through mining expenditures." The company has committed to renounce qualifying expenditures in an amount not less than the gross proceeds raised from the issuance of FT Shares, with an effective date no later than December 31, 2027, and will incur such expenses by December 31, 2027.

Under Canadian securities laws and applicable exchange holding periods, all issued securities are subject to a hold period of four months and one day, which will expire on October 20, 2026. The company paid C$56,550 in cash finder's fees in connection with this private placement and paid C$900 in cash finder's fees for the completion of the first tranche of the unit private placement.

Blue Star Gold is a mineral exploration and development company focused on the Nunavut region of Canada, controlling over 420 square kilometers of mineral rights in the High Lake greenstone belt. Its primary assets include the Ulu Gold Project (comprising the Ulu Mining Lease and the Hood River Property) as well as the Roma and Auma projects. The Ulu Mining Lease hosts the high-grade Flood Zone gold deposit, and the company's land package contains numerous high-priority gold and critical mineral targets. The company's projects are strategically located 40 to 100 kilometers south of the proposed Grays Bay deep-water port, with the planned all-weather Grays Bay Road corridor passing near the company's projects. This road and port project was recently submitted to the Canadian Major Projects Office by Prime Minister Carney.

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