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South Star Secures US$4M Debt Financing for Santa Cruz Graphite Mine in Brazil and Appoints New CFO
ByAinvest
Tuesday, Aug 26, 2025 7:02 pm ET1min read
South Star Battery Metals Corp. has signed a non-binding indicative term sheet with Sprott Streaming for a US$4M loan facility to support the development of the Santa Cruz Graphite Mine in Brazil. The loan has a 3-year maturity, and the proceeds will be used for equipment adjustments, working capital, and process optimization. Darren Prins has been appointed as the new CFO. The financing is expected to close on an expedited schedule, with the initial tranche of US$200,000 conditional on US$2M equity or subordinated debt financing.
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