Toronto, Ontario--(Newsfile Corp. - September 24, 2025) - Canstar Resources Inc. (TSXV: ROX) (OTC Pink: CSRNF) ("Canstar" or the "Company") is pleased to provide an update on its recently announced non-brokered private placement (the "Offering") and advise stakeholders of updates to the Company's website and corporate email addresses.
Financing Update
The $2 million Offering, announced September 23, 2025, has received strong support from investors. Within one day of launch, the Company has received firm orders of over $1 million for the hard-dollar (non-flow-through or "NFT") portion of the Offering. This level of demand underscores the quality of the Company's projects and investor confidence in its strategy.
Given this strong response, Canstar is prepared to allocate up to the full $2 million Offering to hard-dollar units, with flow-through ("FT") allocations to be considered on a case-by-case basis.
Corporate Website and Contact Information
Due to a temporary technical issue with the Company's legacy domain, Canstar has established a new corporate domain, www.canstarmining.com, which will serve as the Company's official website going forward. Please note that any emails sent to the Company that have bounced or otherwise have not been confirmed in the last 24 hours should be resent to the new email address, copying Leah Dionne on any financing-related matters to ensure a timely response.
Effective immediately, the Company's updated contact information is:
- Juan Carlos Giron, Jr.
President & Chief Executive Officer
Email: jc@canstarmining.com
Phone: (647) 557-3442
In addition, to ensure uninterrupted communication during the financing process, the Company requests that all subscription-related correspondence also copy:
- Leah Dionne
Managing Director, Corporate Advisory Services
De Novo Group
Email: leah@denovogroup.ca
Phone: (604) 687-2038 ext. 245
The Company thanks its investors and stakeholders for their continued support and patience during this transition.
Offering Terms (Unchanged)
- Up to $2,000,000 in gross proceeds.
- NFT Units priced at $0.065, each consisting of one common share and one transferable warrant exercisable at $0.10 for 36 months.
- FT Units priced at $0.085, each consisting of one flow-through common share and one-half of one warrant exercisable at $0.10 for 12 months.
- Proceeds from FT Units will be used for Canadian exploration expenses on the Company's Newfoundland properties.
- Proceeds from NFT Units will be used for general corporate purposes, including exploration, working capital, and corporate development.
Additional Offering Details
The Offering is subject to the acceptance of the TSX Venture Exchange and all other required regulatory approvals. All securities issued under the Offering will be subject to a statutory hold period of four months and one day from the closing date in accordance with Canadian securities laws. Finder's fees may be payable in connection with the Offering.
Insiders of the Company may participate in the Offering. Any such participation would constitute a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company expects that any insider participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the securities subscribed for will not exceed 25% of the Company's market capitalization.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an available exemption.
About Canstar Resources Inc.
Canstar Resources Inc. (TSXV: ROX) is an exploration company focused on critical minerals and gold in Newfoundland. The Company's 100%-owned Golden Baie Project (489.5 km²) hosts high-grade gold and antimony showings along a major mineralized structure that also hosts a large number of gold deposits. The Buchans and Mary March projects (120.5 km2) are located within the past-producing VMS zinc-, copper-, and silver-rich Buchans Mining Camp and boast high-grade zinc and copper discoveries.
For further information, please contact:
Juan Carlos Giron, Jr.
President & Chief Executive Officer
Email: jc@canstarmining.com
Phone: (647) 557-3442
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.
This news release contains statements that are considered "forward-looking information" within the meaning of applicable Canadian securities legislation ("forward-looking statements") with respect to the Company, including, the completion of the Offering, the proposed use of proceeds, the expected tax treatment of the FT Shares, the timing of renunciation of CEE, and the acceptance of the Offering by the TSX Venture Exchange.
Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "proposes", and similar expressions, or statements that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements.
These risks and uncertainties include, but are not limited to: the possibility that the Offering may not be completed on the terms announced or at all; that the TSX Venture Exchange may not approve the Offering; that the proceeds may not be used as currently disclosed; and the availability of financing on acceptable terms; potential changes in market conditions or the trading price of the Company's common shares; general business, economic, and market conditions; changes in laws or regulations applicable to the Company; dependence on key management personnel; and competition within the industry. Additional risk factors are identified in the Company's most recent management discussion and analysis and other disclosure documents available under the Company's profile at www.sedarplus.ca.
There may also be other risk factors not presently known to the Company or that the Company currently believes are not material that could cause actual results or future events to differ materially from those expressed in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements and information.
All forward-looking information in this news release is made as of the date hereof. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are based on the reasonable beliefs, expectations, and opinions of management on the date the statements are made and involve numerous assumptions, known and unknown risks, and uncertainties.
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
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SOURCE: Canstar Resources Inc.
