12:02 PM EDT, 06/05/2026 (MT Newswires) -- Blue Star Gold ( BAUFF ) shares fell 4.8% on Friday after it closed the first tranche of its non-brokered private placement of units and flow-through shares (FT share), raising proceeds of $3.1 million.

The company placed of 8.4-million units at $0.24 apiece and 4.3-million FT shares at $0.26 per FT share,

Each unit consists of a share and one-half of a two-year warrant to buy a share for $0.30.

Proceeds from the common-share units will be used for general working capital and proceeds from FT shares will be used to incur eligible "Canadian exploration expenses"" related to its projects in Nunavut.

Director and controlling shareholder of the company Georg Pollert purchased an aggregate of 8.3-million units.

Shares of the company were last seen down $0.01 at $0.20 on the TSX Venture Exchange.

Price: 0.20, Change: -0.01, Percent Change: -4.76