07:33 AM EDT, 07/14/2025 (MT Newswires) -- Blue Star Gold ( BAUFF ) after markets closed on Friday said it plans to complete a non-brokered private placement of up to $2 million.

The company will issue up to 3.3 million flow-through units (FT unit) at $0.15 each and up to 10.7 million units at $0.14 each.

Each FT unit is made up of one share, each of which qualifies as a "flow-through share", and one-half of one common share purchase warrant of the company. Each unit includes one share and one-half of one common share purchase warrant of the company.

Each warrant forms part of the FT units and the units allowing the holder to buy one additional share in the capital of the company at $0.20 each for a period of one year following the closing date of the private placement.

The proceeds from the issue and sale of the units are slated for general working capital, while the proceeds the FT units will be used to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" related to the company's projects in Nunavut.

The private placement is subject to the approval of the TSX Venture Exchange.