VANCOUVER, B.C. – May 20, 2025 – TheNewswire – STARMET VENTURES INC. (CSE: STAR) (the “Company” or “STARMET”), is pleased to announce, further to its news release of February 3, 2025 and March 3, 2025, it has closed the previously announced non-brokered private placement (the “Private Placement”). In connection with the private placement, the Company issued 22,200,000 units (a “Unit”) at an issue price of $0.05 per Unit, raising $1,110,000.

 

Each Unit consists of one common share in the capital of the Company (a "Share") and one common

share purchase warrant of the Company (a "Warrant"). Each Warrant will entitle the holder to purchase

one common share in the capital of the Company (a "Warrant Share") for a period of thirty-six (36)

months from the date of issue at an exercise price of $0.05 per Warrant Share.

 

The net proceeds from the Offering will be used for general working capital purposes.

 

In connection with the Private Placement, the Company paid Capitalink Ltd. and LIA Pure Capital Ltd. (the

“Finders”) aggregate cash fees of $91,575 and issued to the Finders, in aggregate, 2,775,000 common shares(the “Finders’ Shares”).

All Securities issued pursuant to the Private Placement (including the Finders’ Shares) are subject to a statutory four-month hold period under applicable securities laws which expires on September 21, 2025.

About Starmet Ventures Inc.:

Starmet Ventures Inc’s principal business activities include the exploration of mineral resource properties with an emphasis on the Properties located in Esmeralda County, Nevada and Ear Falls, Ontario.  Starmet’s objective is to identify and develop economic mineral resource properties of merit and to conduct exploration programs thereon.

ON BEHALF OF STARMET VENTURES INC.

“Gabi Kabazo”
Chief Financial Officer
T: 1 (604) 833-6820
E: gkabazo@gmail.com

  

Forward-Looking Information:

This press release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or” should” occur or be achieved. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the Private Placement, including the size of the Private Placement, anticipated date of closing, proposed use of proceeds, and the receipt of regulatory approvals and timing thereof, are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Starmet, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the risk that Starmet may be unable to complete the Private Placement on the terms presented or at all, and the risk that Starmet may be unable to obtain the required approvals in connection therewith. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Starmet does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.