Steadright Critical arranges $4-million financing

Executive Summary

• Steadright Critical Minerals Inc. announced a non-brokered private placement for gross proceeds of up to $4 million at a price of 22 cents per unit.
• The company is advancing two key projects: the TitanBeach titanium project (preliminary economic assessment underway) and the Goundafa polymetallic mine (exploration commencing soon).
• The private placement includes warrants exercisable at 30 cents per share for 24 months, with proceeds designated for corporate purposes, acquisitions, and working capital.

Key Details

• Financing Structure:
  • Type: Non-brokered private placement.
  • Gross Proceeds: Up to $4 million.
  • Price: 22 cents per unit.
  • Units Issued: Up to 18,181,818 units.
  • Warrant Terms: Each unit includes one common share purchase warrant, entitling the holder to purchase one common share at an exercise price of 30 cents per share.
  • Warrant Expiry: 24 months from the date of issuance.
  • Tranches: The placement may consist of more than one tranche.
  • Use of Proceeds: Corporate purposes, acquisitions, and working capital.
  • Advisor: Craft Capital Management LLC invited to participate in raising funds, with an emphasis on straight debt financing.
• TitanBeach Titanium Project:
  • Status: Preliminary Economic Assessment (PEA) for a portion of the licenses is underway and expected to be completed by the end of the year.
  • Licensing: Company is seeking environmental and mining licenses to commence production.
  • Assay Results: Heavy mineral beach sand samples revealed potential ilmenite, titanomagnetite, magnetite, leucoxene, and rutile bearing sands.
  • Grades: Fe2O3 values up to 79.5% and TiO2 as high as 14.9%.
• Goundafa Polymetallic Mine:
  • Status: On-site exploration of the conceptual model is scheduled to commence within the next two weeks.
  • Resource Model: 6.62 million tons.
  • Grades: 2.1% Zinc (Zn), 1.8% Lead (Pb), 1.5% to 2.1% Copper (Cu), and up to 3.5 grams per tonne (g/t) Gold (Au) in selected zones.
• Company Background:
  • Steadright operates through a Moroccan entity, NSM Capital Sarl.
  • Holds over 192 square kilometers of mineral exploration claims for the TitanBeach project in the southern provinces of Morocco.
  • Signed a Memorandum of Understanding (MOU) for the historic Goundafa mine.

Notable Quotes

• "Steadright already has two exciting projects and we are moving on both of them at breakneck speed. Our geological and engineering team, made up of industry experts from both Canada and Morocco, will be in the field in the next few weeks -- and hard at it at the TitanBeach heavy mineral sands and at the historic Goundafa mine. I could not be more enthused about these projects." — Matt Lewis, CEO