STSBF - South Star Mining Announces Warrant Extension
(TheNewswire)
February 25, 2021 – TheNewswire - Vancouver, B.C. - South Star Mining Corp.(“South Star” or the “Company”) (TSXV:STS) (OTC:STSBF) announcedin a press release dated February 11, 2021 its intention to apply tothe TSXV Venture Exchange (“TSXV”) to obtain an extension of theexpiry date of 4,050,000 outstanding share purchase warrants (the“Warrants”). The Company is pleased to announce that the TSXV hasapproved the extension of the term of the Warrants for an additional 2months from the original expiry date of Feb. 28, 2021. The newexpiry date will be April 28, 2021. Effective March 1, 2021, theWarrants will be subject to an acceleratedexpiry provision such that the extended term of the warrants will bereduced to 30 days if the closing price of the Company’s sharesexceeds $0.19 for any ten consecutive trading days after February 28,2021. Each warrant is exercisable into onecommon share of the Company at an exercise price of $0.15.
All other terms of the warrants will remain the same.
ABOUT SOUTH STAR MINING CORP.
South Star Mining Corp. is focused on the selectiveacquisition and development of near-term production projects inBrazil. STS is driven to create fundamental value in the batterymetals sector for clients and investors with real projects that havestrong intrinsic financial and operating metrics and that can beprofitable throughout the resource cycle. STS has an experiencedexecutive team with a strong history of discovering, developing,building and operating profitable mines in Brazil.
The Santa Cruz Graphite Project, located in SouthernBahia, is the first of a series of battery metals projects that willput into production. Brazil is the second largest graphite producingregion in the world with over 80 years of continuous mining. TheProject has at-surface mineralization in friable materials, andsuccessful large-scale pilot plant testing (>30t) has beencompleted. The results of the testing show approximately 65% of Cgconcentrate is +80 mesh with good recoveries and 95-99% Cg. With excellent infrastructure and logistics,South Star is carrying its development plan towards Phase 1 productionprojected in Q4 2022, pending financing.
To learn more, please visit the Company website at http://www.southstarmining.ca .
For additional information, pleasecontact:
Mr. Richard Pearce
Chief Executive Officer
For additional information, pleasecontact:
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x251
Email: cathy@chfir.com
Mr. Dave McMillan
Chairman
Email: davemc@telus.net
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
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