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Strategic Resources ( (TSE:SR) ) has shared an update.
Strategic Resources Inc. has launched a non-brokered private placement of up to 40 million units at C$0.25 each, seeking to raise as much as C$10 million in gross proceeds from accredited and other eligible investors in Canada, the United States and select offshore jurisdictions. Each unit will comprise one common share and half a warrant exercisable at C$0.40 over 36 months, with the financing subject to TSX Venture Exchange approval, customary closing conditions and potential finders’ fees.
The company plans to use the net proceeds primarily to advance development of its iron ore pellet plant, including final engineering work and a construction readiness plan, as well as for general working capital needs. The capital raise is intended to move the BlackRock high-purity iron project closer to construction, reinforcing Strategic Resources’ positioning in critical minerals supply chains as demand for low-carbon steelmaking inputs and energy transition materials continues to grow.
More about Strategic Resources
Strategic Resources Inc. is a Montreal-based critical mineral development company focused on vanadium, high-purity iron and titanium, materials seen as essential to the decarbonization of the global economy. Its main assets include the construction-ready BlackRock Project in Quebec, where Phase 1 plans a 4 million tonne per year high-purity iron ore pellet plant at Port Saguenay, and the previously operated Mustavaara mine in Finland, giving it exposure to key North American and European markets.
Average Trading Volume: 20,199
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$15.21M
See more data about SR stock on TipRanks’ Stock Analysis page.