Heliostar Metals Ltd. announced a private placement of up to 8,336,824 units at a price of CAD 0.279017 per share for the aggregate gross proceeds of CAD 2,326,116 on July 11, 2023. Each unit consists of one common share and one-half of common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share at an exercise price of CAD 0.50 for a period of 18 months following the closing date.

The company will issue securities pursuant to exemption provided under Regulation D.