Business Description
Lode-Star Mining INC. was incorporated in the State of Nevada on December 9,
2004 for the purpose of acquiring and exploring mineral properties. Our principal
executive offices are located at 13529 Skinner Road, Suite N, Cypress, Texas
77429-1775. We also maintain a Canadian business office at 666 Burrard Street,
Suite 600, Vancouver, British Columbia, Canada V6C 2X8.
Further to a Mineral Option Agreement dated October 4, 2014, on December 5,
2014, we entered into a subscription agreement (the “Subscription Agreement”)
with Lode Star Gold INC. (“LSG”), a private Nevada corporation,
pursuant to which we agreed to issue 35,000,000 shares of our common stock,
valued at $230,180, to LSG in exchange for a 20% undivided beneficial interest
in and to the mineral claims owned by LSG (the “Acquisition”). The
Closing Date of the Subscription Agreement was December 11, 2014 (the “Closing
Date”).The mineral claims, known as the “Goldfield Bonanza Project”
(the “Property”), are located in the State of Nevada.
As a result of the Acquisition, LSG acquired 35,000,000 shares of our common
stock, or approximately 71.2% (currently) of the total voting power of all of
our outstanding voting securities. LSG assumed control from the holders of our
issued and outstanding common stock, and in particular our former president,
who owned approximately 24.3% of our common stock prior to the Closing Date.
LSG was incorporated in the State of Nevada on March 13, 1998 for the purpose
of acquiring exploration stage mineral properties. It currently has one shareholder,
Lonnie Humphries, who is the spouse of Mark Walmesley, our President and Chief
Financial Officer. Mr. Walmesley is also the Director of Operations and a director
of LSG.
LSG acquired the leases to the Property in 1997 and became the registered and
beneficial owner of the Property on September 19, 2009. Since the earlier of
those dates, it has conducted contract exploration work on the Property but
has not determined whether it contains mineral reserves that are economically
recoverable.
