Steadright Closes First Tranche Of Unit Offering And Announces CFO Appointment

Executive Summary

• Steadright Critical Minerals Inc. closed the first tranche of its non‑brokered private placement, selling 6,168,400 Units at $0.22 per Unit for gross proceeds of $1,357,048.
• Each Unit consists of one common share and one common‑share purchase warrant (exercise price $0.30, 24‑month term).
• The Company appointed Mr. Carmelo Marrelli as Chief Financial Officer effective immediately.

Key Details

• Units sold: 6,168,400
• Price per Unit: $0.22
• Aggregate gross proceeds: $1,357,048
• Net use of proceeds: General working capital and corporate purposes.
• Unit composition: 1 common share + 1 warrant (exercise price $0.30, exercisable for 24 months).
• Finder’s cash commission: 8% of eligible subscriptions = $101,031.04.
• Broker warrant commission: 8% of eligible subscriptions, resulting in 459,232 broker warrants issued.
• Regulatory hold period: Common shares and warrants subject to a four‑month‑plus‑one‑day hold from issuance.
• CFO appointment: Mr. Carmelo Marrelli, principal of Marrelli Support Services, Inc., now serves as Chief Financial Officer.
• Background on CFO: Over 30 years providing accounting, regulatory compliance, corporate secretarial, and transfer agent services to listed and private companies.

Notable Quotes

(No direct quotes were provided in the release.)