07:09 AM EDT, 08/27/2025 (MT Newswires) -- South Star Battery Metals ( STSBF ) overnight Tuesday said it has signed an indicative term sheet with Sprott Streaming and Royalty for a three-year, US$4 million loan facility.

Funds will be used for the Phase 1 Santa Cruz Graphite Mine in Brazil. The initial loan tranche of US$200,000 at closing depends on US$2 million equity or subordinated debt financing, a statement said.

The company has also appointed Darren Prins as chief financial officer, effective immediately, in place of Samantha Shorter, who has resigned to pursue other opportunities.

Prins has served as the chief financial officer for various listed companies.