Steadright Critical Minerals Inc. (CSE: SCM) announced on October 16, 2026 that it has upsized its non-brokered private placement from $800,000 to $900,000, issuing up to 9,000,000 units at $0.10 per unit. Simultaneously, the Muskoka, Ontario-based critical minerals explorer appointed Tyler Burpee to its Board of Directors, effective October 15, 2026. The dual announcement signals a capital raise expansion alongside a strategic governance addition for investors tracking the company's Moroccan exploration portfolio.

Key Points

  • Steadright Critical Minerals Inc. (CSE: SCM) is a mineral exploration company focused on critical minerals in Morocco.
  • The non-brokered private placement has been upsized by $100,000 to a total of $900,000, with units priced at $0.10 each.
  • Each unit comprises one common share and one warrant exercisable at $0.16 per share for 24 months following closing; a four-month-and-one-day statutory hold period applies.
  • Investors may be watching for CSE regulatory approval of the offering and any further updates on the company's Moroccan project activities.

Terms of the Upsized SCM Private Placement

The offering, structured as a non-brokered private placement, will issue up to 9,000,000 units at $0.10 per unit, with each unit consisting of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at $0.16 for a period of 24 months following the closing date. Proceeds are earmarked for general working capital, corporate purposes, and potential strategic initiatives. The company noted that insiders will be participating in the placement, and finder's fees may be paid to eligible parties in accordance with applicable securities laws.

CSE Approval and Statutory Hold Period Requirements

The offering remains subject to regulatory approvals, including approval from the Canadian Securities Exchange. All securities issued will be subject to a statutory hold period of four months and one day from the date of issuance, consistent with applicable Canadian securities legislation. The company did not disclose a targeted closing date for the offering in the announcement. The immediate share price impact was not clear from available public information.

Tyler Burpee Brings 15 Years of Critical Minerals Capital Markets Experience

The Board appointed Tyler Burpee as Director effective October 15, 2026. The release states Burpee brings over 15 years of experience in capital markets advisory, corporate development, and deal origination within the junior mining and critical minerals sectors. He currently serves as CEO and Director of Catalyst Mines Inc. and as a Director of Gold Strategy Inc. (TSX-V: GST). Since 2013, he has been a Partner at Fallon Capital, and previously held roles at Prince Arthur Capital and Norvista Resources, spanning transactions across gold, base metals, and critical minerals in Canada, Africa, and South America.