Steadright Closes Private Placement
CAN: 51510951.1
STEADRIGHT ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Not for distribution to United States Newswire Services or for dissemination in the
United States
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, e ach 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
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CAN: 51510951.1
Email: [email protected]
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.
This news release contains certain forward -looking information. All statements included
herein, other than statements of historical fact, are forward-looking information and such
information involves various risks and uncertainties. In particular, this news release
contains forward-looking information in relation to: the Private Placement, including, the
magnitude of the Private Placement, the closing of the Private Placement, the potential
use of proceeds of the Private Placement, the potential exemptions used for the Offering
and any potential finder’s fee paid on the Offering. There can be no assurance that such
information will prove to be accurate, and actual results and future events could differ
materially from those anticipated in such information. This forward -looking information
reflects Steadright's current beliefs and is based on information currently available to
Steadright and on assumptions Steadright believes are reasonable. These assumptions
include, but are not limited to: the curre nt share price of Steadright's common shares;
CSE acceptance and market acceptance of the Private Placement; Steadright’s current
and initial understanding and analysis of its projects; Steadright's general and
administrative costs remaining constant; market acceptance of Steadright's business
model, goals and approach; and the feasibility and reasonableness of conducting
exploration on and developing any of Steadright’s projects.
Forward-looking information is subject to known and unknown risks, uncertainties and
other factors which may cause the actual results, level of activity, performance or
achievements of Steadright to be materially different from those expressed or implied by
such forward-looking information. Such risks and other factors may include, but are not
limited to: there is no certainty that the ongoing work programs will result in significant or
successful exploration and development of Steadright’s properties; uncertainty as to the
actual results of exploration and development or operational activities; uncertainty as to
the availability and terms of future financing on acceptable terms; uncertainty as to timely
availability of permits and other governmental approvals; general business, economic,
competitive, political and social uncertainties; capital market conditions and market prices
for securities, junior market securities and mining exploration company securities;
commodity prices; the actual resul ts of current exploration and development or
operational activities; competition; changes in project parameters as plans continue to be
refined; accidents and other risks inherent in the mining industry; lack of insurance; delay
or failure to receive board or regulatory approvals; changes in legislation, including
environmental legislation or income tax legislation, affecting Steadright; conclusions of
economic evaluations; and lack of qualified, skilled labour or loss of key individuals.
This news release does not constitute an offer to sell or a solicitation of an offer to buy
any of the securities in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as amended (the " U.S.
Securities Act") or any state securities laws and may not be offered or sold within the
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CAN: 51510951.1
United States or to, or for the account or benefit of, U.S. Persons unless registered under
the U.S. Securities Act and applicable state securities laws, unless an exemption from
such registration is available.