people · May 16, 2026
South Star Battery Metals Upsizes Private Placement to CAD $4.8 Million with CEO Purchase
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South Star Battery Metals Corp. closed the first tranche of an upsized non-brokered private placement on May 15, 2026, raising CAD $2,312,000 through over 15.4 million shares at CAD $0.15 each. Interim CEO Tiago Cunha purchased the entire tranche via his fund, increasing his stake to 38.23 percent of outstanding shares. A second tranche is scheduled to close by May 29, 2026. Net proceeds will expand the Santa Cruz graphite project in Bahia, Brazil, toward 10,000 tonnes per annum production capacity. The project features at-surface friable mineralization with pilot-plant testing confirming high-purity concentrates for lithium-ion batteries.
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