April 24th, 2024 – TheNewswire – Huntsville, Ontario – Steadright Critical Minerals Inc. (CSE: SCM) (“Steadright” or the “Company”) announces it has closed its recent private placement for $160,000 and will not be proceeding with the Life Offering at 0.05 cents.

Closing of the Private Placement is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals. The net proceeds of the Private Placement are intended to be used for exploration on mineral properties and for working capital purposes in 2024.

 

Pursuant to the terms of the Unit Offering, each unit is comprised of one common share of the Company 3,200,000 (each, a “Unit Share”) and one common share purchase warrant 3,200,000 (each warrant a “Warrant”).‎ Each Warrant shall entitle the holder to purchase one common share of the Company (each, a ‎‎“Warrant Share”) at a price of C$0.085 at any time on or before that date which is 12 months after the ‎closing date of the Unit Offering.‎ All securities to be issued under the Unit Offering will be subject to a ‎restricted period in Canada ending on the date that is four months plus one day following the closing of ‎the Offering as defined in Subsection 2.5(2) of Multilateral Instrument 45-102 - Resale of Securities and in accordance with applicable Canadian securities laws.

ABOUT STREADRIGHT CRITICAL MINERALS INC.

Steadright Critical Minerals Inc. is a mineral exploration company established in 2019. Steadright currently holds an option on its RAM property near Port Cartier, Quebec within the Côte-Nord Region, which is accessible by route 138. The RAM project is comprised of over 13,000 acres and located on an Anorthositic complex that is in a highly prospective geological unit and historically been under explored for Ni, Cu, Co and precious metals.

ON BEHALF OF THE BOARD OF DIRECTORS

Simon Chapelle

Independent Director

Steadright Critical Minerals Inc.

Phone: (647)-637-8608

Email: info@steadright.ca

Web: www.steadright.ca

 

Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain forward-looking information. All statements included herein, other ‎than statements of historical fact, are forward-looking information and such information involves ‎various risks and uncertainties. In particular, this news release contains forward-looking information in ‎relation to: the Private Placement, including, the magnitude of the Private Placement, the closing of the ‎Private Placement, the potential use of proceeds of the Private Placement, the potential exemptions used for the ‎Offering and any potential finder’s fee paid on the Offering. There can be no assurance that such ‎information will prove to be accurate, and actual results and future events could differ materially from ‎those anticipated in such information. This forward-looking information reflects Steadright's current ‎beliefs and is based on information currently available to Steadright and on assumptions Steadright ‎believes are reasonable. These assumptions include, but are not limited to: the current share price of ‎Steadright's common shares; CSE acceptance and market acceptance of the ‎Private Placement; Steadright’s current and initial understanding and analysis of its projects; Steadright's general ‎and administrative costs remaining constant; market acceptance of Steadright's business model, goals ‎and approach; and the feasibility and reasonableness of conducting exploration on and developing any ‎of Steadright’s projects.

Forward-looking information is subject to known and unknown risks, ‎uncertainties and other factors which may cause the actual results, level of activity, performance or ‎achievements of Steadright to be materially different from those expressed or implied by such forward-‎looking information. Such risks and other factors may include, but are not limited to: there is no ‎certainty that the ongoing work programs will result in significant or successful ‎exploration and ‎development of Steadright’s properties; uncertainty as to ‎the actual results of exploration and ‎development or operational activities; uncertainty as to the availability and terms of ‎future financing on ‎acceptable terms; uncertainty as to timely availability of permits and other governmental approvals; ‎general business, economic, competitive, political and social uncertainties; capital market conditions ‎and market prices for securities, junior market securities and mining exploration company securities; ‎commodity prices; the actual results of current exploration and development or operational activities; ‎competition; changes in project parameters as plans continue to be refined; accidents and other risks ‎inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory ‎approvals; changes in legislation, including environmental legislation or income tax legislation, affecting ‎Steadright; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key ‎individuals.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the ‎securities in the United States. The securities have not been and will not be registered under the United ‎States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and ‎may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons ‎unless registered under the U.S. Securities Act and applicable state securities laws, unless an ‎exemption from such registration is available.‎

Not for distribution to United States Newswire Services or for dissemination in the United States