FULL DISCLOSURE: The Deep Dive is long the equity of Steadright Critical Minerals.
Steadright Critical Minerals (CSE: SCM) has finalized its latest round of fundraising, closing the second and final tranche of its non-brokered private placement. The exploration firm raised gross proceeds of $485,000 through the sale of 1.94 million units under the second tranche.
The units were priced at $0.25 each, with each unit consisting of one common share and a full common share purchase warrant. These warrants allow investors to pick up additional shares at $0.31 for a period of two years. The closing of the second tranche follows a first tranche, which closed on March 3, raising proceeds of $1.08 million. Collectively, the financing raised proceeds of $1.57 million through the sale of 6.3 million units.
Management plans to funnel the fresh capital into general working capital and corporate purposes. The timing is strategic; with the financing secured, the company is shifting its focus toward a busy field season in North Africa.
“We are quite encouraged by the enthusiasm .. and are also working hard progressing our Moroccan assets forward,” said Steadright CEO Matt Lewis.
The company has been aggressively pivoting toward the Moroccan critical minerals sector since mid-2025. Its current portfolio includes the TitanBeach Titanium Project, which covers over 192 square kilometers, alongside interests in the historic Goundafa Mine and the Copper Valley project.
READ: Steadright: Atrium Research Initiates Coverage With $0.50 Price Target
The push into Morocco comes as the region gains traction for its potential to supply strategic metals necessary for the global energy transition. Steadright is currently working to fast-track several of these assets from exploration toward active production.
The deal follows a wave of positive momentum for the company, including a recent initiation of research coverage by Atrium Research, which set a price target of $0.50. The coverage by Atrium is centered on Steadright positioning itself as a pure country play with a focus on near-term production.
Steadright Critical Minerals last traded at $0.215 on the CSE.
FULL DISCLOSURE: Steadright Critical Minerals is a long investment of Canacom Group, the parent company of The Deep Dive. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
