Stillwater Critical Minerals Corp. (TSX.V: PGE; OTCQB: PGEZF; FSE: J0G) (the “Company” or “Stillwater”) is pleased to announce that, subject to the approval of the TSX Venture Exchange (the “TSX-V”), it has closed a second non-brokered private placement financing for additional proceeds of $500,001, through the issuance of 3,333,340 flow-through units at a price of $0.15 per unit (“Private Placement”). Each unit consists of one flow-through share of the Company and one-half of one transferable non-flow-through warrant, with each full warrant allowing the holder to purchase one common share of the Company at a price of $0.225 per share for twenty-four months. Warrants shall contain a customary acceleration provision, which shall be effective if the volume weighted average trading price of the common shares on the TSX-V is greater than $0.34 for a period of 20 consecutive trading days.
Michael Rowley, President and CEO, commented, “We are pleased with the additional interest shown in advancing our Kluane critical minerals project. As announced previously, work is expected to include ground geological programs and potential geophysical surveys, in addition to data compilation, to drive the selection of drill targets across this district-scale asset ahead of upcoming campaigns. We look forward to further announcements in the near term, in particular from our flagship Stillwater West project as we work with Glencore via the technical committee to finalize our exploration and resource expansion drill plan for 2025. Investors are invited to meet the team including Dr. Danie Grobler at booth 2724 at the PDAC in Toronto March 2nd to 5th, or at subsequent shows as listed below.”
The Company intends to use the gross proceeds from the sale of the Flow-Through Shares to incur exploration expenses that are eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures” as such terms are defined in the Income Tax Act (Canada).
All securities issued pursuant to the Placement will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws and the policies of the TSX-V. The securities have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. The private placement remains subject to the final approval of the TSX-V.
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