Mr. Matt Lewis reports
STEADRIGHT CLOSES FIRST TRANCHE OF UNIT OFFERING
Steadright Critical Minerals Inc. has closed the first tranche of its previously announced non-brokered private placement, pursuant to which the company sold 4,336,816 units in the capital of the company at a price of 25 cents per unit, for aggregate gross proceeds of $1,084,204. The company intends to use the net proceeds for general working capital and corporate purposes.
Each unit is composed of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one further common share at a price of 31 cents per common share for a period of 24 months from the date of issuance.
In consideration for their services, certain finders received a cash commission equal to 8.0 per cent on eligible subscriptions of the gross proceeds of the offering totalling $56,300 and a broker warrant commission equal to 8 per cent on eligible subscriptions of the gross proceeds of the offering, being 225,200 broker warrants. The commission was paid in accordance with the policies of the Canadian Securities Exchange and relevant Canadian securities laws.
The common shares, warrants and broker warrants issued pursuant to the offering will be subject to a regulatory hold period of four months and one day from the date of issuance. The offering remains subject to final Canadian Securities Exchange acceptance of requisite regulatory filings.
Said Steadright chief executive officer Matt Lewis, "We are quite encouraged by the enthusiasm surrounding the first tranche of our capital raise, and are also working hard progressing our Moroccan assets forward."
About Steadright Critical Minerals Inc.
Steadright Critical Minerals
is a mineral exploration company established in 2019. Steadright has been focused since late spring 2025 on finding exploration and historical mining projects that can be brought into production within the Moroccan critical mineral space. Steadright currently has exposure through a Moroccan entity known as NSM Capital Sarl, with over 192 square kilometres of mineral exploration claims called the TitanBeach titanium project, and found in the southern provinces of Morocco. Steadright also has signed a binding memorandum of understanding for the historic Goundafa mine within the Kingdom of Morocco, has acquired the Copper Valley historic copper-lead-silver project and has a letter of intent with SilverLine Mining Sarl.
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