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Steadright Critical Minerals Inc. Terminates Agreement to Acquire Moroccan Mining Company Due to Incomplete Financial Records
Muskoka, Ontario — June 25, 2026 — Leads & Copy — Steadright Critical Minerals Inc. (CSE: SCM) announced today the immediate termination of its agreement to acquire 80% of the outstanding shares of EXTERRA Mining & Exploration SARL, a private Moroccan company. The decision stems from Exterra's failure to provide complete and sufficient financial records, which did not meet the disclosure standards and conditions stipulated in the June 9, 2026 agreement.
As a company listed on the Canadian Securities Exchange (CSE), Steadright is obligated to adhere to CSE policies, requiring all acquisitions to be supported by accurate, auditable financial statements from the target entities. Exterra's inability to deliver the necessary financial documentation within the agreed-upon timeframe led Steadright to exercise its contractual right to cancel the transaction, a move intended to safeguard the company and its shareholders.
Steadright Critical Minerals Inc. remains actively engaged in exploring other strategic opportunities within the critical minerals sector, both in Canada and internationally. The company, established in 2019, has previously focused on identifying exploration and historical mining projects for potential development in Morocco's critical mineral landscape.
The company currently holds interests through a Moroccan entity, NSM Capital Sarl, encompassing over 192 square kilometers of mineral exploration claims at the TitanBeach Titanium Project, in addition to the Copper Valley Project. Steadright also has a binding Memorandum of Understanding (MOU) for the historic Goundafa Mine in Morocco and a Letter of Intent (LOI) with SilverLine Mining Sarl, another Moroccan company.