02:55 PM EDT, 03/28/2024 (MT Newswires) -- Stillwater Critical Minerals ( PGEZF ) on Thursday said it is raising up to C$2.5 million in a private placement of share units, with Glencore committing to acquire the bulk of the offer.

The company said it will place 17.86 million units in the financing, with each priced at C$0.14 and made up of a share and one half of a three-year warrant to buy a second share for C$0.21.

Glencore Canada has committed to acquire 15-million of the units for C$2.1 million.

"We are pleased to have Glencore's continued support through their participation in this placement as we advance our flagship Stillwater West project as a large-scale source of nine metals that are now listed as critical in the USA.," chief executive Michael Rowley said in a release.

Stillwater shares were last seen C$0.01 to C$0.15 on the TSX Venture Exchange.

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