Strategic Resources Inc. (TSXV: SR) announced amendments to its C$10 million non-brokered private placement, according to a company statement.

The company plans to issue up to 40 million units at C$0.25 each. Each unit consists of one common share and one-half of a common share purchase warrant. The warrants allow holders to purchase additional shares at C$0.40 within 36 months of closing.

The offering comprises two components: up to 29.5 million units for C$7.375 million under the LIFE Offering framework, and up to 10.5 million units for C$2.625 million through a concurrent private placement to accredited investors.

Warrants issued under the LIFE Offering cannot be exercised for 60 days after closing. The concurrent offering targets investors in Canada, the United States, and select offshore jurisdictions under applicable securities law exemptions.

Strategic Resources expects the offering to close around April 15, 2026, subject to regulatory approvals including TSX Venture Exchange authorization and completion of subscription documentation. The company may complete the offering in multiple tranches.

The Montreal-based company engaged Integrity Capital Group Inc. for support and may pay finder's fees in connection with the offering. Net proceeds will fund iron ore pellet plant development activities, final engineering, construction readiness planning, and general working capital.

Strategic Resources develops critical minerals including vanadium, high-purity iron, and titanium through its BlackRock Project in Quebec and the Mustavaara mine in Finland. The BlackRock Project's first phase envisions a 4 million tonne annual high-purity iron ore pelletizer at Port Saguenay, Quebec.