Starr Peak Mining Ltd. announced a non-brokered private placement of 6,250,000 units of the company at a price of CAD 0.40 per unit for gross proceeds of CAD 2,500,000 on May 4, 2023. Each unit consists of one common share and one half of one share purchase warrant, with each share purchase warrant entitling the holder to acquire an additional common share of the company at a price of CAD 0.80 per share for a period of 18 months from the closing date. In connection with the closing, the company will pay finder's fees of up to 6% cash equal to CAD 150,000 to certain finders.

The transaction included participation from new group of international investors. The shares and warrants comprising the units are subject to a hold period expiring September 4, 2023.