StrategX Elements Raises $198,000 in Second Tranche of Private Placement
News related to:StrategX Elements Corp · 1 min read
StrategX Elements Corp. has successfully closed its second tranche of a non-brokered private placement, raising gross proceeds of $198,000 through the issuance of 1,320,000 units at a price of $0.15 per unit. This latest funding brings the total raised from the Offering to $531,856.35, following the first tranche closing on July 16, 2026, which saw the sale of 3,545,709 units.
Each unit consists of one common share and one-half of one transferable common share purchase warrant. These warrants are exercisable to purchase one additional common share of the company at $0.25 for a period of 36 months from the date of issuance. The company expects the final tranche closing, related to the remaining balance of units available for sale, to be completed on or before September 30, 2026.
The funds raised will support the continued advancement of StrategX Elements Corp.'s Critical Minerals exploration projects on the Melville Peninsula, Nunavut, Canada. The company is focused on discovering and advancing district-scale mineral systems in northern Canada, with its flagship Nagvaak Project hosting a large-scale critical minerals system prospective for nickel, copper, cobalt, vanadium, graphite, and silver.
According to the press release, all securities issued pursuant to the Offering are subject to a statutory hold period expiring January 18, 2027, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange. The company notes that this news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.