Vancouver, BC, Canada, June 18, 2020 – Megastar Development Corp. (“Megastar”, or the “Company”) (TSX-V: MDV; Frankfurt: M5QN; OTC: MSTXF), a mineral exploration company focused on gold, silver and polymetallic properties in Oaxaca, Mexico, is pleased to announce that it has closed a non-brokered private placement financing in the amount of $926,800 (the “Placement”).