Green Star Royalties announced that it has entered into a non-brokered private placement to issue 15,384,620 at a price of CAD 1 per share for gross proceeds of CAD 15,384,620 on March 31, 2022. The transaction will include participation from new investor Agnico Eagle Mines Limited for 14,134,620 shares and proceeds of CAD 14,130,000 and returning investor Star Royalties Ltd. for 1,250,000 shares for proceeds of CAD 1,250,000. The transaction is expected to close in April, 2022.

The transaction is subject to approval from The TSX Venture Exchange, the satisfactory completion of due diligence by Agnico Eagle, the negotiation of a unanimous shareholders agreement among the shareholders of Green Star Royalties and a co-investment agreement pursuant to which Agnico Eagle will have the right to co-invest with Green Star Royalties in green projects, and the entering into of a management agreement between Green Star Royalties and Star Royalties.