08:18 AM EST, 01/06/2025 (MT Newswires) -- Star Diamond ( SHGDF ) said Monday that it is raising up to $500,000 in a non-brokered convertible note private placement.

The company plans to use the proceeds for general working capital purposes as it continues discussions with possible investors to fund a pre-feasibility study for the Fort a la Corne kimberlites in Saskatchewan.

The offering will consist of up to $500,000 in aggregate principal amount of convertible promissory notes. The company will also issue to subscribers one warrant for every $0.02 of notes purchased.

Each warrant can be exercised at $0.06 per share for two years.

Star Diamond's ( SHGDF ) share price jumped 25% last Friday to $0.025 on the TSX.