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StrategX Elements Corp. (CSE: STGX) ("StrategX" or the "Company") announces that, further to its news release of October 14, 2022, it has closed the first tranche of its non-brokered private placement (the "Private Placement") by issuing 803,166 flow-through shares ("FT Shares") for $0.30 per FT Share for gross proceeds of $240,950, and 1,901,000 non-flow-through share units ("NFT Units") for $0.25 per NFT Unit for gross proceeds of $475,250. In relation to the NFT Units, the Company issued 950,500 common share purchase warrants, each entitling the holder to purchase a non-flow-through common share of the Company for $0.40 per share until October 25, 2025. The Company paid finder's fees of $30,015 with this closing. All securities issued at closing are subject to a hold period expiring February 26, 2023, in accordance with applicable securities laws and the policies of the CSE.
About StrategX
StrategX is a new Canadian-based exploration company on a mission to be a significant contributor to the natural resources sector and sustainable energy economy. The Company is currently focused on the discovery of cobalt and associated energy transition metals in northern Canada. The Company's property portfolio of 5 stand-alone projects is situated on the East Arm of the Great Slave Lake, Northwest Territories and the Melville Peninsula, Nunavut. The Company's first-mover land position in underexplored regions provides a unique opportunity for investors to be part of multiple discoveries and the creation of new districts hosting metals required in the transition towards green energy. Click here to check out our 30-second video clip on StrategX.
On Behalf of the Board of Directors
Darren G. Bahrey
CEO, President & Director
For further information, please contact:
StrategX Elements Corp.
Email: info@strategXcorp.com
Phone: 1-855-787-2849 (toll-free)
For further information about the Company, please visit our website at www.strategXcorp.com
Neither the Canadian Securities Exchange nor its regulation services accept responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/141785
