Stardust Metal has entered into an agreement with Canaccord Genuity Corp. to lead a best-efforts private placement offering to raise aggregate gross proceeds of up to $12.6 million.

The financing will consist of up to 3,345,000 premium flow-through common shares priced at $2.725 each and up to 1,784,000 common shares priced at $1.95 each. Stardust has also granted agents an option to sell an additional 15 percent of both share types to raise up to an additional $1,888,600, which would bring total gross proceeds to $14.5 million if exercised in full. Agents will receive a cash commission of up to 6 percent of the gross proceeds raised.

Gross proceeds from the premium flow-through shares will be directed toward eligible Canadian exploration expenses qualified as flow-through mining expenditures on the company's projects in Ontario by December 31, 2027, with expenditures to be renounced to subscribers by the end of 2026. Net proceeds from the common shares will fund general corporate purposes and working capital.

Stardust holds the McGarry and Omega projects, alongside the Kirkland West and Goldie projects located along the Cadillac Break in the Kirkland Lake district of Ontario. The company holds an option agreement approved by shareholders in July 2026 to acquire up to a 75 percent interest in the McGarry project from Orecap Invest Corp. Stardust graduated its common shares from the Canadian Securities Exchange to the TSX Venture Exchange under the ticker symbol ZIGY on September 3, 2026.

Closing of the offering is expected on or about October 8, 2026, subject to customary conditions, including the receipt of necessary regulatory approvals and the approval of the TSX Venture Exchange. Securities issued under the placement will be subject to a four-month and one-day statutory hold period in Canada. Stardust targets the completion of an updated mineral resource estimate for the Omega project early next year.

Read the full announcement: Stardust Metal Announces $12.6 Million Brokered Private Placement