Strategic Minerals Europe Corp. announced a non-brokered private placement of up to 1,000 convertible debenture units at a price of CAD 1,000 per unit to raise aggregate gross proceeds of CAD 1,000,000 on September 26, 2022. Each unit will consist of one 10% senior unsecured convertible debenture having a face value of CAD 1,000, convertible into common shares at a conversion price of CAD 0.25 per common shares and maturing two years from the closing date and 4,000 common share purchase warrants.

Each warrant will entitle the holder thereof to purchase one common share at CAD 0.25 per share for a period of two years following the closing date of the offering. At any time and from time to time following the expiry of twelve months after the closing date, the company may, at its option, redeem pro rata all or part of the convertible debentures upon not less than 30 nor more than 60 days' prior written notice, at a redemption price which is equal to 110% of the principal amount thereof, plus any accrued and unpaid interest that would otherwise by be payable to the holder from the time of the optional redemption until the maturity date. In connection with the transaction, the company may pay finders' fees in units equal to 5% of the gross proceeds of the offering.

The offering is subject to acceptance by the Neo Exchange Inc. and all regulatory approvals, and all of the securities issued in connection with the offering will be subject to applicable statutory holding periods or any other re-sale restrictions imposed under applicable securities legislation.