Stillwater Critical Minerals Announces $2.5 Million Private Placement

Stillwater Critical Minerals has initiated a private placement to raise approximately $2.5 million by offering up to 17,857,143 units at $0.14 each. Glencore Canada Corporation, a subsidiary of Glencore plc, has committed to acquiring 15 million units for $2.1 million.

Each unit in this offering includes one common share and a half warrant, with full warrants allowing the purchase of additional common shares at $0.21 for three years post-issue. If all warrants are exercised, the company could receive an additional $1.875 million.

Michael Rowley, President and CEO of Stillwater, expressed gratitude for Glencore's support. The funds are earmarked for the exploration and development of the company's North American nickel projects and for working capital. This comes as Stillwater advances its Stillwater West project, which is rich in critical metals including nickel, copper, cobalt, and palladium.

The placement awaits approval from the TSX Venture Exchange and will adhere to a four-month holding period as per securities laws. Stillwater also noted the possibility of insider participation in the placement, ensuring compliance with relevant regulations.