Stillwater Critical Minerals Increases Private Placement to $3.85 Million

Stillwater Critical Minerals, operating under the TSX.V:PGE, OTCQB:PGEZF, and FSE:J0G, has announced an upscale in their non-brokered private placement to a total of $3.85 million, up from the initial $2.5 million. This change, motivated by strong investor interest, involves the issue of 27.5 million units.

Glencore Canada Corporation, a subsidiary of Glencore plc, is set to purchase 15 million units worth $2.1 million. The offering, expected to conclude around April 26, 2024, is subject to customary conditions and the approval of the TSX Venture Exchange. A four-month hold period on the securities issued will also be in place.

Certain company insiders will participate in the placement, which will be processed under Exemptions from MI 61-101 to avoid the need for formal valuation and minority shareholder approval. This internal participation will not exceed 25% of the company's market capitalization.