Steadright Critical Minerals Inc. (CSE: SCM) has completed a two-tranche non-brokered private placement totalling $900,000, with the second and final tranche raising $370,000 in gross proceeds. The offering issued 9,000,000 units at $0.10 each, with attached warrants exercisable at $0.16 per share for 24 months. The capital is intended to support working capital, corporate purposes, and potential strategic initiatives for the Muskoka, Ontario-based critical minerals explorer.

Key Points

  • Steadright Critical Minerals Inc. (CSE: SCM) closed the second and final tranche of its non-brokered private placement
  • Total gross proceeds from both tranches reached $900,000; the second tranche contributed $370,000
  • Each unit consists of one common share and one warrant exercisable at $0.16 for 24 months; insiders subscribed for 500,000 units in the second tranche
  • Investors may be watching for Canadian Securities Exchange regulatory approval of the second tranche and deployment of proceeds toward strategic initiatives

Two-Tranche Structure Completes the $900,000 Offering

The first tranche closed on October 28, 2026, raising $530,000 in gross proceeds, while the second and final tranche added $370,000, bringing the combined offering to $900,000. All 9,000,000 units were priced at $0.10 each. Insiders participated in both tranches, subscribing for 1,100,000 units in the first and 500,000 units in the second, signalling internal confidence in the company's direction. The second tranche remains subject to regulatory approvals, including approval from the Canadian Securities Exchange.

Warrant Terms and Hold Period Conditions for SCM Investors

Each unit issued under the offering includes one common share and one warrant entitling the holder to acquire an additional common share at $0.16 for a period of 24 months from the applicable closing date. Securities issued to Canadian purchasers in the second tranche carry a statutory hold period of four months and one day from the date of issuance. Units sold to purchasers outside Canada were issued under an exemption pursuant to OSC Rule 72-503 and are not subject to the four-month hold period in Canada.

Finders' Fees Paid in Connection with the Offering

Steadright paid finders' fees of $18,600 on 3,100,000 of the units issued under the offering. Additionally, finder's fee warrants equal to 6% of gross proceeds were granted, each exercisable to acquire one additional common share at $0.16 per share for 24 months from closing. The company stated that all fees were paid in accordance with applicable securities laws and Canadian Securities Exchange policies.

Proceeds Directed to Working Capital and Morocco Exploration Portfolio

The release states that proceeds will be used for general working capital, corporate purposes, and potential strategic initiatives. Steadright holds exploration exposure through its Moroccan entity NSM Capital Sarl, covering over 192 square kilometres of mineral claims through its TitanBeach Titanium Project and Copper Valley Project, along with a binding memorandum of understanding for the historic Goundafa Mine in Morocco. The immediate share price impact was not clear from available public information.