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StrategX Elements Corp. (CSE: STGX,OTC:STRXF) ("StrategX" or the "Company") announces that it proposes to undertake an up to $275,000 non-brokered private placement (the "Offering") of flow-through units (each, a "FT Unit") to be sold to eligible purchasers at a price of $0.22 per FT Unit. Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one non-flow-through common share of the Company at a price of $0.35 at any time on or before that date which is three years after the closing date of the Offering.
The gross proceeds received from the sale of the FT Units will be used to fund "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" as both terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's properties in Nunavut on or before December 31, 2026, and the Company will renounce all of the Qualifying Expenditures in favour of the subscribers of the FT Shares effective December 31, 2025.
The Company will pay finders' fees to eligible finders in connection with the Offering, subject to compliance with applicable securities laws and the policies of the CSE.
All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance in accordance with the policies of the CSE and applicable securities laws.
About StrategX
StrategX is a Canadian exploration company focused on discovering energy transition metals in northern Canada. The Company is currently advancing multiple high-potential targets for critical minerals and graphite on the Melville Peninsula, Nunavut. With a first-mover advantage in a significantly underexplored region, StrategX offers a unique opportunity for investors to participate in multiple discoveries and the development of new mineral districts vital to the global energy transition.
Darren G. Bahrey
CEO
For further information, please contact:
info@strategXcorp.com
For further information about the Company, please visit our website at www.strategXcorp.com.
Neither the Canadian Securities Exchange nor its regulations 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/278757
