Strategic Resources arranges $10-million placement

Executive Summary

• Strategic Resources Inc. has announced a non-brokered private placement of up to 40 million units at $0.25 per unit, targeting gross proceeds of up to C$10 million.
• Each unit consists of one common share and one-half of one common share purchase warrant, with warrants exercisable at $0.40 per share for 36 months.
• Net proceeds are designated for advancing the iron ore pellet plant development (final engineering and construction readiness) and general working capital.

Key Details

• Offering Size: Up to 40 million units.
• Price: $0.25 per unit.
• Gross Proceeds: Up to C$10 million.
• Structure: Non-brokered private placement.
• Warrant Terms: Each unit includes one-half of one warrant; each warrant entitles the holder to acquire one common share at an exercise price of $0.40.
• Warrant Duration: 36 months from the closing date.
• Closing Date: Expected on or about April 15, 2026, or as determined by the company; may occur in one or more tranches.
• Conditions Precedent: Execution of definitive subscription documentation, receipt of regulatory approvals (including TSX Venture Exchange), and other customary closing conditions.
• Use of Proceeds: Advancement of the iron ore pellet plant development activities, specifically final engineering and the construction readiness plan, plus general working capital.
• Finder’s Fees: The company may pay cash finders' fees and issue finders' warrants to eligible arm's-length parties in accordance with TSX-V policies.

Notable Quotes

• No direct quotes from management were included in the provided text.