Steadright Critical Minerals Inc. Reports Q1 Financial Results
Muskoka, Ontario — On October 6, 2026, Steadright Critical Minerals Inc. (CSE: SCM) announced the filing of its Q1 Interim Financial Statements along with the Management’s Discussion and Analysis (MD&A) for the three-month period ending June 30, 2026. In a strategic move, Steadright has adjusted its fiscal year-end to August 31, 2026, while enhancing its operational efficiencies and reporting protocols in collaboration with its associated entities in Morocco. This progress is attributed to the relentless efforts of its dedicated teams in both Canada and Morocco, which have streamlined processes and improved overall productivity.
In a significant update, the company has decided to cancel the previously announced Share Purchase Agreement with Maghreb Atlas Trading Sarl and Mining Research Company, which was intended to secure a 50% interest in a Moroccan entity possessing crushing, grinding, and quarrying assets. The initial agreement, signed on June 27, 2026, outlined a post-closing ownership structure where Steadright would hold 50%, while Maghreb Atlas Trading Sarl and Mining Research Company would each retain a 25% share. Financial considerations for the deal included the issuance of 5 million common shares of Steadright to both Maghreb Atlas Trading Sarl and Mining Research Company at an adjusted cost basis of 20 cents, as well as a €700,000 payment to a Lawyer Trust Account as part of a pass-through settlement. Additionally, Steadright had committed to contribute up to CAD $480,000 for repair expenditures, but the company now plans to re-enter negotiations regarding the transaction.
About Steadright Critical Minerals Inc.
Steadright Critical Minerals Inc. is a mineral exploration firm founded in 2019, with a mission to propel exploration and historical mining projects towards production in Morocco's vital minerals sector. The company holds its interests through NSM Capital SARL, maintaining a 32% carried interest in the expansive 192 sq. km TitanBeach Titanium Project in Morocco, as well as the Copper Valley Project. Furthermore, Steadright has established a binding memorandum of understanding for the historic Goundafa Mine, which is currently licensed for mining operations. The company's activities are instrumental in advancing Morocco's critical minerals landscape, setting a strong foundation for future growth and development.
For inquiries, please reach out to Matt Lewis, CEO and Director of Steadright Critical Minerals Inc., via email at enquiries@steadright.ca or by phone at 1-905-410-0587. For more information, visit their official website at www.steadright.ca.
As reported by thenewswire.com.
