Lodestar Metals Raises $500,000, Consolidates Shares

Lodestar Metals Corp. is raising up to C$500,000 through a private placement of up to 6,666,666 units at C$0.075 per unit. The company also announced its intention to consolidate its issued and outstanding common shares on a two-for-one basis.

Proceeds from the private placement are earmarked for exploration and drilling at the company's Goldrun Project in Nevada, along with general working capital. The transactions are subject to approval from the TSX Venture Exchange.

Each unit in the placement consists of one post-consolidation share and one-half of a share purchase warrant. Warrants allow holders to purchase an additional share at $0.12 for two years, with an acceleration clause if the share price reaches $0.15 for 10 consecutive days. Finders may receive commissions up to 6% in cash and warrants.

In addition to the financing and consolidation, Lodestar Metals is bolstering its leadership. Randene Seeman has been appointed to the board of directors, bringing over 25 years of experience in project development and corporate finance within the mining and resource sectors. Doug Engdahl, a professional geologist and CEO of Axiom Group, has joined as a strategic advisor.