Blue Star Gold Corp. has completed a non-brokered private placement raising gross proceeds of $800,000 through the issuance of 4,000,000 common shares at $0.20 per share. The proceeds are earmarked for general working capital, with no finder's fees paid in connection with the offering.

In tandem with the financing, the company completed debt settlements by issuing an aggregate of 638,993 common shares at a deemed price of $0.20 per share to extinguish liabilities totaling $127,798.66. The settlement covers past director services provided between January 2021 and May 2026, as well as unpaid finder's fees owed to an arm's length party from previous placements in May 2025 and July 2026.

Dr. Georg Pollert, a director and controlling shareholder of Blue Star, participated in both the private placement and the debt settlements by subscribing for the 4,000,000 private placement shares and receiving 388,993 shares under the debt settlements. Because of Dr. Pollert's role, the issuances constitute a related party transaction under Multilateral Instrument 61-101. The company relied on exemptions from formal valuation and minority shareholder approval requirements as the fair market value did not exceed 25% of market capitalization.

All securities issued are subject to a four-month and one day hold period under Canadian securities laws and exchange rules, and the transactions remain subject to the final approval of the TSX Venture Exchange.

Blue Star's ongoing exploration work has focused on its flagship Ulu Gold Project, which previously received financial support from the Nunavut government's Discover, Invest, Grow program.

Read the full announcement: Blue Star Announces Closing of Non-Brokered Private Placement and Debt Settlements