Steadright Cancels Moroccan Crushing & Grinding Deal Negotiations
News related to:Steadright Critical Minerals Inc · 2 min read
Steadright Critical Minerals Inc. (CSE: SCM), a mineral exploration company established in 2019, focused on advancing exploration and historical mining projects toward production within Morocco's critical minerals sector, has announced significant changes in its financial and operational strategies. The company has filed its Q1 Interim Financial Statements and Management’s Discussion and Analysis (MD&A) for the three months ended June 30, 2026.
Steadright has also changed its Year End to August 31st, 2026 and has implemented reporting procedures and operational efficiencies with Steadright’s affiliated interests in the Kingdom of Morocco, thanks in large part to the team of dedicated staff and contractors in Canada and Morocco.
The company has also cancelled the previously announced Share Purchase Agreement with Maghreb Atlas Trading Sarl and Mining Research Company to acquire a 50% interest in a Moroccan company holding crushing, grinding, and quarrying assets. The Post-Closing Ownership Structure considered was:
- Steadright Critical Minerals Inc. (SCM), 50% - Maghreb Atlas Trading Sarl, 25% - Mining Research Company, 25%
The total consideration for the Purchased Quotas consisted of:
- 5,000,000 common shares of Steadright at an ACB of 20 cents issued to Maghreb Atlas Trading Sarl; - 5,000,000 common shares of Steadright at an ACB of 20 cents issued to Mining Research Company; - €700,000 EUR payable to a Lawyer Trust Account as a pass-through settlement.
Steadright had also agreed to contribute up to CAD $480,000 toward repairs. The company plans to enter new negotiations for the transaction.
Steadright Critical Minerals Inc. is a mineral exploration company established in 2019, focused on advancing exploration and historical mining projects toward production within Morocco's critical minerals sector. Steadright holds its interest through NSM Capital SARL, which has a 32% carried interest in the 192 sq. km TitanBeach Titanium Project through Shang Tang in Morocco and the Copper Valley Project. Steadright also holds a binding memorandum of understanding for the historic Goundafa Mine in Morocco, which holds a permitted mining license.
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- Ontario, October 6th, 2026, TheNewswire - Steadright - three months ended June 30, 2026. Steadright has changed - Year End to August 31st, 2026 and has implemented - previously announced, on June 29th, 2026 (signed on June - 2026 (signed on June 27, 2026) Share Purchase Agreement - Company to acquire a 50% interest in a Moroccan - Atlas Trading Sarl, 25% - Mining Research Company - Quotas consisted of: - 5,000,000 common shares of Steadright - at an ACB of 20 cents issued to Maghreb - Mining Research Company; - €700,000 EUR payable to a - contribute up to CAD $480,000 toward repairs. The company - exploration company established in 2019, focused on advancing exploration - SARL, which has a 32% carried interest in the - carried interest in the 192 sq. km TitanBeach Titanium - U.S. Securities Act of 1933, as amended, or any
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