Lodestar Metals Settles Indebtedness with Silver One Resources Inc.
Vancouver, April 22, 2025 - Lodestar Metals Corp. (TSXV: LSTR) (OTCQB: SVTNF) ("Lodestar" or the "Company"), announces that it has entered into a settlement agreement with Silver One Resources Inc. ("Silver One") whereby the Company and Silver One have agreed to a complete settlement of the $1,250,000 indebtedness (the "Indebtedness") owed by the Company to Silver One under a share purchase agreement dated November 19, 2020, as amended, and certain promissory notes dated March 2, 2021.
In consideration of Silver One's release of the Indebtedness, the Company has agreed to pay $50,000 to Silver One and issue 3,000,000 common shares of the Company (the "Shares") to Silver One at a deemed price of $0.05 per Share. Following the cash payment and Share issuance to Silver One, the Company will no longer be indebted to Silver One. Further, the settlement allows both companies to move forward.
The Shares will be subject to restrictions on resale for a period of four months from the date of issue. The transaction is subject to final acceptance by the TSX Venture Exchange.
About Lodestar Metals Corp.
Lodestar Metals Corp. is a Canadian mining exploration company. The Company's 100% owned flagship Peny Property comprises 47 mineral claims totaling 11,191 hectares in the Snow Lake District, Manitoba, with access to tier-1 existing infrastructure. The Lodestar business plan calls for a dynamic combination of developing its existing properties, acquisitions, and partnerships to achieve growth. For more information, visit https://lodestarbatterymetals.ca.
Contacts
Lodestar Metals Corp.
Lowell Kamin, President, CEO & Chairman of the Board
(416) 272-1241
lowell@lodestarbatterymetals.ca
Forward-Looking Statements
The information set forth in this news release contains forward-looking statements based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Lodestar cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by several material factors, many of which are beyond Lodestar's control. Such factors include, among other things, risks and uncertainties relating to Lodestar's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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