Strategic Resources Inc. (TSX-V: SR)  is pleased to announce it has closed the final tranche of its $13.5 million subscription receipts financing announced on December 13, 2022. The $4.3 million final tranche represents Investissement Québec’s portion of the financing.

In addition, the Company has received TSX Venture Exchange conditional acceptance of the reverse takeover transaction announce on December 13, 2022 involving the Company’s acquisition of BlackRock Metals Inc.

Offering Details

Strategic issued a total of 27,000,000 subscription receipts at $0.50 per Receipt for gross proceeds of $13,500,000. Each Receipt will automatically convert to one pre-consolidated common share of the Company on closing of the Company’s acquisition of BlackRock Metals Inc. The Company plans to use the net proceeds from the Receipts to advance BlackRock Metals Inc. to a construction decision, continue permitting and pre-feasibility study work at Mustavaara, and for general corporate purposes.

All prices and amounts are on a pre-consolidated basis. All securities issued in the Receipt offering will be subject to a statutory hold period of four months and one day from the date of issuing the respective Receipts.

About Strategic Resources

Strategic Resources Inc. is a Vancouver, Canada-based mineral exploration and development company focused on vanadium projects in Finland. The Company is primarily focused on its flagship Mustavaara vanadium-iron-titanium project in Finland. The Company is currently in the process of closing the acquisition of BlackRock Metals Inc.