CryptoStar Corp. announced a private placement of 40,000,000 units at a price of CAD 0.05 per unit for the gross proceeds of CAD 2,000,000 on January 17, 2024. Each unit will be comprised of one common share in the capital of the company and one common share purchase warrant.

Each warrant will entitle the holder thereof to acquire one share at a price of CAD 0.07 per warrant share for a period of 36 months from the closing date of the offering. In connection with the offering, the company may pay certain finders a cash commission equal to 7% of the aggregate gross proceeds raised from those purchasers introduced by such finder and/or issue that number of shares and/or common share purchase warrants equal to 3% of the number of units purchased by those purchasers introduced by such Finder. Each finder warrant will entitle the holder thereof to acquire a share at an exercise price of CAD 0.07 per finder?s warrant share for a period of 36 months from the Closing Date.

The company will pay a finance fee of CAD 15,000 upon completion of the offering. The offering may close in tranches, with the first tranche expected to close on or around January 31, 2024. The offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange