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StrategX Elements Announces C$1 Million Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 14, 2023) - StrategX Elements Corp. (CSE: STGX) ("StrategX" or the "Company"), intends to complete a non-b
About this update from Strategx Elements Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - August 14, 2023) - StrategX Elements Corp. (CSE: STGX) (\"StrategX\" or the \"Company\"), intends to complete a non-brokered private placement to raise gross proceeds up to $1,000,000 (the \"Offering\"). The Offering will be comprised of a combination of (i) flow-through common shares (each an \"FT Share\") to be sold at $0.25 per FT Share, and (ii) non-flow-through units (each an \"NFT Unit\") to be sold at $0.20 per NFT Unit. Each NFT Unit will be comprised of one non-flow-through common share and one common share purchase warrant entitling the holder to purchase one non-flow-through common share of the Company for $0.30 per share for a period of three years. The exact number of FT Shares and NFT Units sold will be determined at closing. The Units and FT Shares will be offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation. A finder's fee may be paid to eligible finders in relation to this financing, subject to compliance with applicable securities laws and the policies of the Canadian Securities Exchange. The Units and FT shares will be subject to a four-month-and-one-day hold period under securities laws in Canada. The gross proceeds received from the sale of the FT Shares will be used to incur Canadian exploration expenses on its projects in Nunavut and Northwest Territories before December 31, 2024. The Company will renounce qualifying expenditures to subscribers of FT Shares for the calendar year ending December 31, 2023. The net proceeds received from the sale of the NFT Units will be used for general working capital. About StrategX StrategX is a Canadian-based exploration company focused on discovering energy transition metals in northern Canada. With five strategic projects situated on the East Arm of the Great Slave Lake, Northwest Territories and the Melville Peninsula, Nunavut, we're leading discovery in untapped regions. This first-mover advantage in underexplored regions presents a unique opportunity for investors to be part of multiple discoveries and the development of new districts for critical metals essential for the global green energy shift. For updates and the latest insights, explore our Investor Portal. This news release does not constitute an offer to sell or a solicita...