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Critical One Closes Oversubscribed Private Placement and Issues Stock Options
Globenewswireยท2025-04-30 20:15

Group 1 - Critical One Energy Inc. has successfully closed an oversubscribed, non-brokered financing, issuing 6,075,000 units at a price of CDN$0.20 per unit, resulting in gross proceeds of CDN$1,215,000 [1][2] - Each unit consists of one common share and one-half of a common share purchase warrant, with each full warrant allowing the purchase of one common share at CDN$0.35 for eighteen months [2] - Two directors participated in the financing, contributing a total of CDN$240,000 for 1,200,000 units, which is classified as a related party transaction [3][4] Group 2 - The proceeds from the private placement are intended for exploration activities at the Howells Lake Antimony-Gold Project and for general administrative expenses [6] - The Howells Lake Antimony-Gold Project is located in the Thunder Bay Mining Division of Ontario, Canada [6] - The company has granted stock options for 550,000 common shares to certain management and board members, with an exercise price of CDN$0.45 per share for five years [7] Group 3 - Critical One Energy Inc. is focused on critical minerals and upstream energy, aiming to meet the rising global demand for these resources [8] - The company's exploration portfolio includes antimony-gold projects in Canada and uranium projects in Namibia, Africa [8]