Stillwater Critical Minerals Announces Additional Upsize to Non-Brokered Private Placement Financing

Rhea-AI Summary

Stillwater Critical Minerals (OTCQB:PGEZF) has announced a further upsize to its non-brokered private placement financing. The additional offering will include 210,038 units at C$0.23 per unit, raising an extra C$43,308.74, bringing the total to 1,856,418 units for aggregate proceeds of C$426,976.14.

Each unit consists of one common share and a half warrant, with each whole warrant exercisable at C$0.34 for 36 months. Additionally, Glencore Canada Corporation plans to exercise its participation rights to acquire 6,000,000 units for C$1,380,000. The offerings follow a C$7 million brokered LIFE offering announced on July 15, 2025.

Proceeds will fund exploration at the company's Stillwater West Ni-PGE-Cu-Co+Au project in Montana and Kluane critical minerals project in Yukon. The offerings are expected to close around August 12, 2025.

Positive

• Additional C$43,308.74 raised through increased demand for private placement
• Strategic investment of C$1.38M from Glencore through participation rights
• Follows successful C$7M brokered LIFE offering
• Proceeds to advance flagship Stillwater West project and Kluane critical minerals project

Negative

• Shares will be subject to a four-month hold period
• Dilution of existing shareholders through additional share issuance

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESS Newswire / August 8, 2025 / Stillwater Critical Minerals Corp. (TSXV:PGE)(OTCQB:PGEZF)(FSE:J0G), (the "Company", or "Stillwater") is pleased to announce that as a result of increased demand, the follow-on non-brokered private placement financing previously announced on July 15, 2025 and upsized on July 28, 2025 will be further upsized by an additional 210,038 units at a price of C$0.23 per unit (each, a "Unit") for gross proceeds of an additional C$43,308.74, and an aggregate total of 1,856,418 Units for aggregate gross proceeds of C$426,976.14(the "Additional Offering"), with each Unit consisting of one common share of the Company and one-half of one common share purchase warrant, and each whole warrant entitling the holder thereof to purchase one common share at a price of C$0.34 for a period of thirty-six (36) months from the date of issuance.

The Additional Offering follows the closing of the C$7 million brokered LIFE offering (the "LIFE Offering"), which was announced on July 15, 2025, and is anticipated to include directors and/or officers of the Company, among others. The Additional Offering is expected to complete concurrently with the Glencore Offering (as defined below).

Glencore Canada Corporation ("Glencore"), a subsidiary of Glencore plc, has indicated that it intends to exercise its participation rights pursuant to the investor rights agreement between Glencore and the Company dated May 1, 2024, to acquire 6,000,000Units at a price of C$0.23 per Unit for gross proceeds of C$1,380,000 in connection with the LIFE Offering and the Additional Offering (the "Glencore Offering" and together with the Additional Offering, the "Offerings").

It is anticipated that certain directors and/or officers of the Company will acquire Units under the Additional Offering. Such acquisitions and Glencore's exercise of its participation rights and acquisition of Units will constitute "related party transactions" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the Offerings due to the fair market value of the related party participation being below 25% of the Company's market capitalization for purposes of MI 61-101. The Company will file a material change report in respect of the Offerings. However, the material change report will be filed less than 21 days prior to the closing of the Offerings, as insider participation has yet to be confirmed and the Company wishes to close the Offerings as expeditiously as possible.

The securities sold pursuant to the Offerings will not be issued in reliance on the Listed Issuer Financing Exemption and will be subject to a hold period of four months and one day from the closing of such offering. No finders' fees are payable on any portion of the Offerings. Closing of the Offerings is subject to certain customary conditions, including, but not limited to, the receipt of all necessary regulatory approvals and the acceptance of the TSX Venture Exchange (the "TSXV").

The Company intends to use the net proceeds of the Offerings for the exploration and advancement of the Company's flagship Stillwater West Ni-PGE-Cu-Co+Au project in the Stillwater mining district in Montana, U.S., for a lesser exploration program at its Kluane critical minerals project in Yukon, Canada, and for general corporate purposes and working capital.

The Offerings are scheduled to close on or around August 12, 2025 and remains subject to the final acceptance of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including 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, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

About Stillwater Critical Minerals Corp.
Stillwater Critical Minerals (TSXV:PGE)(OTCQB:PGEZF)(FSE:J0G) is a resource-stage mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the addition of two renowned Bushveld and Platreef geologists to the team and strategic investments by Glencore plc, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group, nickel, and other metals by neighboring Sibanye Stillwater. An expanded NI 43-101 mineral resource estimate, released January 2023, positions Stillwater West with the largest nickel-platinum group element resource in an active U.S. mining district as part of a compelling suite of ten minerals now listed as critical in the USA.

Stillwater also holds a 49% interest in the high-grade Drayton-Black Lake gold project adjacent to NexGold Mining's development-stage Goliath Gold Complex in northwest Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum's Wellgreen deposit in Canada's Yukon Territory. The Company also holds the Duke Island Cu-Ni-PGE property in Alaska and maintains a back-in right on the high-grade past-producing Yankee-Dundee mine in BC.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Michael Rowley, President, CEO & Director - Stillwater Critical Minerals
Email: info@criticalminerals.com Phone: (604) 357 4790
Web: https://criticalminerals.com Toll Free: (888) 432 0075

Forward-Looking Statements
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Stillwater Critical Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Stillwater Critical Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedarplus.ca.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

SOURCE: Stillwater Critical Minerals

View the original press release on ACCESS Newswire

FAQ

What is the total size of Stillwater Critical Minerals' (PGEZF) latest private placement offering?

The total offering consists of 1,856,418 units for aggregate proceeds of C$426,976.14, with an additional Glencore participation of 6,000,000 units for C$1,380,000.

What is the price per unit and warrant terms for PGEZF's private placement?

Units are priced at C$0.23, with each unit including one common share and half a warrant. Each whole warrant can be exercised at C$0.34 for 36 months.

How will Stillwater Critical Minerals use the proceeds from the private placement?

Proceeds will fund exploration of the Stillwater West Ni-PGE-Cu-Co+Au project in Montana and the Kluane critical minerals project in Yukon, plus general corporate purposes and working capital.

When is the expected closing date for Stillwater Critical Minerals' private placement?

The offerings are scheduled to close on or around August 12, 2025, subject to TSXV final acceptance.

What is Glencore's participation in PGEZF's private placement?

Glencore Canada Corporation plans to acquire 6,000,000 units at C$0.23 per unit for total proceeds of C$1,380,000 through its participation rights.