Western Star Resources Inc. announced that it has entered into an equity agreement with the new investor Crescita Capital LLC to issue common shares for the gross proceeds of CAD 5,000,000 on September 12, 2023. The company can draw down funds from the Equity Investment Facility from time to time during the three-year term at discretion by providing a notice to Crescita and issuing common shares to Crescita. The shares issued in connection with any Private Placement will be priced at 85% of the average closing bid price over the ten days of trading following the Drawdown Notice.

The amount requested in each Drawdown Notice cannot exceed 500% of the average daily trading volume of the Pricing Period. Pursuant to the Agreement, the Company will pay Crescita an up-front commission of CAD 249,999,9, representing 5% of the amount available under the Equity Investment Facility, which shall be paid through the issuance of 1,666,666 common shares of the Company at a deemed price of CAD 0.15 per share and issue Crescita 869,800 warrants of the Company, representing 5% of Western Star?s current number of outstanding shares, each at an exercise price of CAD 0.15 per share for a period of three years. All securities issued to Crescita pursuant to the Agreement will not be subject resale restrictions under applicable securities laws and the Company intends to seek a waiver from the Canadian Securities Exchange in respect of the 4-month hold period.