St-Georges Eco-Mining (CSE:SX) is conducting a non-brokered private placement to raise C$1 million ($1.03 million) to fund capital expenditures for operational upgrades and general working capital.
The funds will be allocated towards the company’s battery processing operations in its subsidiary EVSX Corp, as well as to complete a technical report for the Thor Gold Project and preliminary work required for the independent listing of Iceland Resources.
Under the placement, 20 million units will be issued at C$0.05 per unit. Each unit comprises one common share and half of common share purchase warrant. The warrants will be exercisable at C$0.075 within a 24-month period.
As previously reported, EVSX has upgraded several components in the battery recycling unit which have increased the efficiency and throughput of used batteries.
EVSX Corp extracts the value of used domestic, commercial and electric vehicle batteries and is leading development in battery recycling in Thorold, Niagara, Ontario.
In early March 2026, St-Georges processed three tonnes of spodumene concentrate at the leaching phase, with pilot plant operations progressing as planned.
Alongside the company’s technology partner Coalia, St-Georges is continuing to advance the installation of the first purification stage, which is a key component for lithium solution concentrate and downstream product generation.
While most equipment has been received and installed, completion is pending delivery of a transformer required for operation. Final commissioning of the first purification stage is currently expected within the coming weeks.
St-Georges Eco-Mining develops new technologies and holds a diversified portfolio of assets and patent-pending intellectual property within several highly prospective subsidiaries.
Write to Aaliyah Rogan at Mining.com.au
Images: St-Georges Eco-Mining
