Mr. Darren Bahrey reports
STRATEGX ELEMENTS CORP. ANNOUNCES FIRST TRANCHE CLOSING OF NON-BROKERED PRIVATE PLACEMENT TO ADVANCE CRITICAL MINERALS EXPLORATION ON MELVILLE PENINSULA, NUNAVUT
Strategx Elements Corp. has completed the first tranche of its previously announced non-brokered private placement, raising gross proceeds of $333,856.35 through the issuance of 2,225,709 units at a price of 15 cents per unit. The proceeds will support the continued advancement of the company's critical minerals exploration projects on the Melville Peninsula, Nunavut, Canada.
Each unit consists of one common share and one-half of one transferable common share purchase warrant, with each whole warrant exercisable to purchase one additional common share of the company at 25 cents for a period of 36 months from the date of issuance.
In connection with the first tranche, the company paid finders' fees of $10,800. All securities issued pursuant to the first tranche are subject to a statutory hold period expiring Nov. 16, 2026, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.
The offering remains open and the company expects to complete one or more additional tranches, subject to regulatory approval.
Darren G. Bahrey, chief executive officer of Strategx, commented:
"We are pleased with the continued support from our existing shareholders and the addition of new investors to our shareholder base through this first tranche. The proceeds will allow us to continue advancing our exploration programs on the Melville Peninsula alongside our Inuit partners and local team members. As exploration progresses, we also intend to expand our investor outreach and marketing initiatives to increase awareness of the company's progress and exciting opportunities ahead."
The net proceeds from the offering will be used to advance exploration activities on the Melville Peninsula, including geological field programs, target development and community engagement initiatives, and for general working capital purposes.
About Strategx Elements Corp.
Strategx is a Canadian critical minerals exploration company currently focused on discovering and advancing district-scale mineral systems in Northern Canada. Its flagship Nagvaak project, located on the Melville Peninsula in Nunavut, hosts a large-scale critical minerals system prospective for nickel, copper, cobalt, vanadium, graphite and silver.
The company is advancing a portfolio of high-priority exploration targets through systematic, cost-effective exploration programs conducted in collaboration with its Inuit partners and local communities. Strategx believes the Melville Peninsula represents one of Canada's emerging critical minerals districts and is strategically positioned to contribute to secure North American supply chains supporting electrification, energy security and advanced manufacturing.
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