- StrategX Elements (STGX) has closed a non-brokered private placement
- The placement has two parts: flow-through shares and non-flow-through shares
- The company issued 1,200,000 flow-through shares at a price of $0.30 per share for gross proceeds of $360,000
- It also issued 63,600 non-flow-through share units at a price of $0.25 per unit for gross proceeds of $15,900
- StrategX Elements Corp. is a new Canadian-based exploration company on a mission to make discoveries in critical energy metals in northern Canada
- StrategX Elements Corp. (STGX) last closed at $0.255 per share
StrategX Elements (STGX) has closed a non-brokered private placement.
The placement has two parts: flow-through shares and non-flow-through shares.
The company issued 1,200,000 flow-through shares at a price of $0.30 per share for gross proceeds of $360,000, and 63,600 non-flow-through share units at a price of $0.25 per unit for gross proceeds of $15,900.
In relation to the non-flow-through units, the company issued 31,800 common share purchase warrants, each entitling the holder to purchase a non-flow-through common share of the company for $0.40 until December 30, 2025.
An officer of the company participated in the private placement and purchased 33,600 non-flow-through units, which is considered a “related party transaction” according to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”).
Because the insider’s participation did not exceed 25 per cent of the fair market value of the company’s market capitalization, the company is exempt from the requirements to obtain a formal valuation and minority shareholder approval.
StrategX Elements Corp. is a new Canadian-based exploration company on a mission to make discoveries in critical energy metals in northern Canada and contribute towards a sustainable energy economy.
StrategX Elements Corp. (STGX) last closed at $0.255 per share.
