April 24th, 2024 – Huntsville, Ontario – Steadright Critical Minerals Inc. (CSE: SCM) (“Steadright” or the “Company”) announces it has closed its recent private placement for $160,000 and will not be proceeding with the Life Offering at 0.05 cents.
Closing of the Private Placement is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals. The net proceeds of the Private Placement are intended to be used for exploration on mineral properties and for working capital purposes in 2024.
Pursuant to the terms of the Unit Offering, each unit is comprised of one common share of the Company 3,200,000 (each, a “Unit Share”) and one common share purchase warrant 3,200,000 (each warrant a “Warrant”). Each Warrant shall entitle the holder to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.085 at any time on or before that date which is 12 months after the closing date of the Unit Offering. All securities to be issued under the Unit Offering will be subject to a restricted period in Canada ending on the date that is four months plus one day following the closing of the Offering as defined in Subsection 2.5(2) of Multilateral Instrument 45-102 – Resale of Securities and in accordance with applicable Canadian securities laws.
ABOUT STREADRIGHT CRITICAL MINERALS INC.
Steadright Critical Minerals Inc. is a mineral exploration company established in 2019. Steadright currently holds an option on its RAM property near Port Cartier, Quebec within the Côte-Nord Region, which is accessible by route 138. The RAM project is comprised of over 13,000 acres and located on an Anorthositic complex that is in a highly prospective geological unit and historically been under explored for Ni, Cu, Co and precious metals.
ON BEHALF OF THE BOARD OF DIRECTORS
Simon Chapelle
Independent Director
Steadright Critical Minerals Inc.
Phone: (647)-637-8608
Email: info@steadright.ca
Web: www.steadright.ca
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
