Stillwater Critical closes $17-million financing

Executive Summary

• Stillwater Critical Minerals Corp. has closed its previously announced bought deal private placement, raising gross proceeds of C$17,000,220, inclusive of the full exercise of the overallotment option.
• The company sold 36,957,000 units at a price of C$0.46 per unit, with Red Cloud Securities Inc. and Research Capital Corp. acting as co-lead underwriters.
• Net proceeds will be utilized for the exploration and advancement of the flagship Stillwater West Ni-PGE-Cu-Co-plus-Au project in Montana, along with general corporate purposes and working capital.

Key Details

• Gross Proceeds: C$17,000,220 (includes full exercise of overallotment option).
• Units Sold: 36,957,000 units.
• Price Per Unit: C$0.46.
• Underwriters: Red Cloud Securities Inc. (co-lead underwriter and sole bookrunner) and Research Capital Corp. (co-lead underwriter).
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of C$0.64. Warrants expire on December 30, 2028.
• Use of Proceeds: Exploration and advancement of the Stillwater West Ni-PGE-Cu-Co-plus-Au project in the Stillwater mining district, Montana; general corporate purposes; and working capital.
• Regulatory Exemptions: Issued to Canadian purchasers under the listed issuer financing exemption (NI 45-106, Part 5A) and to offshore/US purchasers via private placement exemptions from the US Securities Act of 1933.
• Hold Periods: Securities not issued under the listed issuer financing exemption are subject to a hold period of four months and one day following the issue date.
• Underwriter Compensation: Aggregate cash fees of $987,114 and 2,145,900 non-transferable common share purchase warrants.
• Broker Warrant Terms: Exercisable into one common share at the offering price (C$0.46) for 36 months from issuance. Subject to a hold period expiring May 1, 2026.
• Closing Status: Subject to final approval of the TSX Venture Exchange.

Notable Quotes

• "As a result of strong support demonstrated in this placement, we are ending 2025 with funds in place for a robust 2026 season," said Michael Rowley, president and chief executive officer. "We look forward to near-term catalysts, including drill results and updates on government initiatives, as well as the planned update to our mineral resource estimate as we advance Stillwater West as a primary source of 10 minerals designated as critical in the U.S."