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StrategX Elements Raises C$0.33 Million in First Tranche of Non-Brokered Private Placement

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StrategX Elements (STGX.CN) completed the first tranche of its non-brokered private placement, raising C$333,856.35 through the issuance of 2.2 million units at C$0.15 per unit, it said in a statement on Thursday.

Each unit consists of one common share and one-half of one transferable common share purchase warrant, with each whole warrant exercisable to buy a share for C$0.25 for a three-year period. The company expects to complete one or more additional tranches, subject to regulatory approval.

Proceeds will be used to support its critical minerals exploration projects on the Melville Peninsula, Nunavut, Canada, and for general working capital needs.

Shares of the company were last seen unchanged at C$0.175 on the Canadian Securities Exchange.

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