Lodestar Metals Corp. (TSXV: LSTR | OTCQB: SVTNF), a junior gold and silver exploration company focused on Nevada, has announced that its Board of Directors has approved a proposed downward repricing and extension of 3,985,000 stock options. All amended options would be repriced to a uniform exercise price of $0.055, reduced from prior exercise prices ranging between $0.10 and $0.20. The proposal remains subject to TSX Venture Exchange acceptance and disinterested shareholder approval, with the company intending to seek that approval at its annual general meeting scheduled for December 2, 2026.

Key Points

  • Lodestar Metals Corp. (TSXV: LSTR | OTCQB: SVTNF) is a Canadian junior gold and silver explorer advancing the Goldrun Project in Nevada.
  • The Board has approved a proposed repricing and extension of 3,985,000 stock options, all amended to a uniform $0.055 exercise price.
  • Of the total options affected, 3,175,000 are held by company insiders, triggering the disinterested shareholder approval requirement.
  • Investors should watch the December 2, 2026 annual general meeting, where shareholder approval will be sought.

Nine Option Tranches Repriced to $0.055 with Unified November 2031 Expiry

The proposed amendments cover nine separate option tranches. Exercise prices are being cut to $0.055 from prior levels of $0.10, $0.11, $0.15, and $0.20, depending on the tranche. Expiry dates across all nine groups are being standardised to November 4, 2031. The largest single tranche involves 1,300,000 options repriced from $0.15, while the smallest covers 125,000 options originally priced at $0.10. The announcement states that extending and harmonising the expiry dates is part of the Board-approved amendment package alongside the price reductions.

Insider Holdings Trigger Regulatory and Shareholder Approval Requirements

Because 3,175,000 of the 3,985,000 options subject to amendment are held by insiders, the proposed changes require both TSX Venture Exchange acceptance and disinterested shareholder approval before they can take effect. This means holders of insider-linked options cannot vote in favour of the resolution at the December 2, 2026 annual general meeting. The release notes that the amendments will not proceed as announced if either regulatory acceptance or disinterested shareholder approval is not obtained, representing a material condition that investors should factor into their assessment of the proposal.

Lodestar's Goldrun Project Context and Carlin-Trend Focus

Lodestar Metals describes itself as focused on advancing the Goldrun Project in Nevada, situated on a major Carlin-style gold trend adjacent to some of North America's largest gold deposits. The company characterises its strategy as concentrating capital on high-value targets and pursuing a step-by-step discovery approach. The option repricing announcement was made alongside recent operational news from the project, though the company did not disclose any connection between the exploration programme and the rationale for the option amendments. The immediate share price impact was not clear from available public information.