Star Diamond Corporation announced a non brokered private placement to issue units at an issue price of CAD 0.09 and flow-through units at an issue price of CAD 0.11 per unit for the gross proceeds of CAD 2,000,000 on December 15, 2023. Each Unit shall consist of one common share and one common share purchase warrant. Each FT Unit shall consist of one common share and one common share purchase Warrant.

Each Warrant will entitle the holder thereof to acquire one additional common share at an exercise price of CAD 0.14 for a period of 36 months from the date of issuance. The Offering is expected to close in one or more tranches, the first of which will occur on or before December 29, 2023 and involve the issuance of all FT Units issuable pursuant to the Offering. The Company may close concurrent or subsequent tranches of Units pursuant to the Offering, on or prior to February 2, 2024.

The Offering is subject to the approval of the TSX. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus one day from the closing date of the Offering. The transaction may include participation from officers and directors of the company, up to a maximum of 25% of the number of units and/or FT units to be sold thereunder.

The company may also pay finders fees and issue broker warrants to qualified registrants assisting in the offering, in amounts yet to be determined.