01:53 PM EST, 02/02/2026 (MT Newswires) -- Stardust Solar (SUN.V) on Monday said it will proceed with a non-brokered private placement of senior secured convertible-debenture units for proceeds of up to $1.5 million.

The company said the offering will consist of up to 1,500 senior secured convertible-debenture units at $1,000 apiece. Each debenture unit will consist of one senior secured convertible debenture having a principal value of $1,020 and 6,800 warrants.

The two-year debentures will bear a 10% interest per year, paid in cash on the last business day of each month. It added the debentures will bear interest at an increased rate of 25% per annum, upon any event of default.

Each two-year warrant will entitle the holder to buy a share for $0.21. The funded amount of the debentures will be convertible into shares priced at $0.15 at the option of the holder at any time.

Proceeds will be used for its solar project in Zambia, as well as for general and administrative, and marketing and working capital needs.

Shares of the company were last seen down $0.005 to $0.11 on the TSX Venture Exchange.

Price: 0.11, Change: -0.01, Percent Change: -4.35