Vancouver, British Columbia--(Newsfile Corp. - May 29, 2026) - Stardust Solar Energy Inc. (TSXV: SUN) (OTCQB: SUNXF) (FSE: 6330) ("Stardust Solar" or the "Company"), a globally expanding renewable energy company, announces, further to its news release of May 13, 2026, that it has completed the first tranche (the "First Tranche") of its previously announced non-brokered private placement of units (the "Offering"). As well, in a response to its investor's desires, the Company announces that it has downsized the aggregate maximum size of the Offering from $3,000,000 (as previously announced) to $1,500,000. Pursuant to the First Tranche, the Company issued 6,487,479 units of the Company (the "Units") at $0.075 per Unit for gross proceeds of $486,560.93.
Each Unit consists of one common share in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional Share at a price of $0.10 per Share for a period of 18 months from the closing date of the First Tranche.
In connection with the First Tranche, the Company paid finder's fees to eligible finders consisting of $25,427.50 in cash and 339,033 common share purchase warrants (the "Finder Warrants"). Each Finder Warrant entitles the holder to acquire one Share at a price of $0.10 per Share for a period of 18 months from the closing date of the First Tranche, all in accordance with the policies of the TSX Venture Exchange ("TSX-V").
The Company anticipates closing one or more additional tranches of the Offering (which has an aggregate maximum of 20,000,000 Units for gross proceeds of up to $1,500,000) in the coming weeks, subject to applicable regulatory approvals.
The Company intends to use the net proceeds of the Offering to repay the outstanding principal amount and all interest accrued thereon under the outstanding senior secured convertible debenture units of the Company, advance its utility-scale energy project in Zambia, and for general working capital and corporate purposes.
All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws and the policies of the TSX-V.
About Stardust Solar Energy Inc.
Stardust Solar Energy Inc. is a globally expanding renewable energy company supporting the installation, development, training, and deployment of residential, commercial, and utility-scale solar solutions across international markets. The Company operates a diversified solar royalty platform generating recurring revenue through franchise installation operations, accredited training and development licenses and subscriptions, and technology-driven innovation initiatives. Through formal engagement with governments, utilities, and commercial stakeholders, the Company is scaling renewable energy capacity worldwide.
Media and Investor Contacts:
Erica Bearss, MBA, DBA (c) | VP Corporate Communications
investors@stardustsolar.com
www.stardustsolar.com
Follow us on > Facebook / LinkedIn / Instagram
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.
The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.
This news release includes certain information and statements about management's view of future events, expectations, plans, and prospects that constitute "forward-looking information" within the meaning of applicable Canadian securities laws (and "forward-looking statements" within the meaning of applicable United States securities laws), including statements relating to the Company's business plans and expected future growth, the closing of one or more additional tranches of the Offering on the terms described herein or at all, the anticipated use of net proceeds of the Offering, and the Company's ability to advance its utility-scale energy project in Zambia. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements, or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Except as required by applicable securities laws, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information, or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the 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 an exemption from such registration is available.
- NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES -
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299495
Source: Stardust Solar Energy Inc.
