StrategX Elements Corp. has pushed back the closing deadline for its non-brokered private placement aiming to raise up to $900,000 until September 30, 2026.

The financing offers units priced at $0.15 each. Every unit comprises one common share alongside one-half of one transferable common share purchase warrant. Whole warrants entitle the holder to purchase an additional common share at a price of $0.25 for a duration of 36 months from the date of issuance.

StrategX previously closed an initial tranche on July 15, successfully raising gross proceeds of $333,856.35 through the issuance of 2,225,709 units. The company expects to complete one or more additional tranches before the revised September deadline. All securities issued under the offering remain subject to a statutory hold period of four months and one day from their respective issuance dates. Finder's fees may be paid to eligible finders in connection with portions of the offering in accordance with applicable policies.

Net proceeds from the placement are allocated toward advancing exploration activities on the Melville Peninsula. Specifically, the funds will support geological field programs, target development, community engagement initiatives, and general working capital requirements.

The company's flagship Nagvaak Project on the Melville Peninsula in Nunavut has been the subject of previous exploration and diamond drilling campaigns that confirmed a polymetallic critical minerals system. In addition to the Nagvaak property, the company's asset portfolio includes the Mel project in Nunavut, which is classified at an advanced exploration stage, and the East Arm project located in the Northwest Territories.

Read the full announcement: StrategX Elements Corp. Announces Extension of Non-Brokered Private Placement