07:39 AM EDT, 07/04/2025 (MT Newswires) -- South Star Battery Metals ( STSBF ) , at the low end of the 52 week trading range, overnight Thursday said it will reprice the warrant of the previously announced non-brokered private placement at a unit price of US$0.22 per unit for gross proceeds of up to US$2 million.

On June 4, the company had said that it plans to complete a non-brokered private placement of up to roughly 9.1 million units at a price of US$0.22 each, for gross proceeds of up to US$2 million. The company had added that each unit will consist of one common share and one common share purchase warrant, with each warrant entitling the holder to acquire one common share at an exercise price of US$0.33 for a period of five years following the date of issuance.

The company overnight Thursday said that each unit will be made up of one common share and one common share purchase warrant, with each warrant allowing the holder to buy one common share at an exercise price of US$0.22 for a period of five years following the date of issuance. The warrants will include an acceleration clause.

The company said that the closing of the private placement is subject to customary closing conditions and that the proceeds from it will be used for exploration, development, corporate G&A and general working capital requirements.

The company further added that insiders may participate in the private placement including subscriptions from related parties of the company.