Core Viewpoint - Critical One Energy Inc. has entered into an acquisition agreement with Dark Star Minerals Inc. for the sale of its uranium interests in the Khan and Cobra Uranium Projects, allowing the company to focus on its Howells Lake Antimony-Gold Project, which aligns with global market trends and enhances shareholder value [1][2]. Group 1: Acquisition Details - Dark Star will acquire 100% of Critical One's interests in the Khan and Cobra Uranium Projects located in Namibia's Erongo uranium province [1]. - The acquisition will occur through staged cash payments and common share issuances over a two-year period, with a total cash payment of US$760,000 and additional share issuances [3][5]. - Upon reaching a combined value of over US$3.5 million in cash and share payments, Critical One will receive a 2% gross overriding royalty on all metals produced from the uranium projects [4]. Group 2: Strategic Shift - The divestiture of uranium assets allows Critical One to concentrate on high-margin, high-demand critical minerals, particularly antimony and gold, which are experiencing increased demand [2]. - The Howells Lake Antimony-Gold Project is expected to provide growth potential and improved returns, especially as gold prices reach all-time highs [2]. - This strategic shift is aimed at optimizing the company's portfolio for long-term profitability and reducing exposure to market risks [2]. Group 3: Financial Terms - Initial cash payment of US$10,000 and issuance of 200,000 common shares of Dark Star upon execution of the letter of intent [5]. - Subsequent payments include US$150,000 upon execution of the definitive agreement, US$100,000 within four months, and US$250,000 on the first and second anniversaries of the definitive agreement [3]. Group 4: Company Overview - Critical One Energy Inc. is focused on critical minerals and upstream energy, with a strategic position to meet rising global demand [7]. - The company is backed by experienced management and aims to leverage its expertise to drive growth and deliver shareholder value [7].
Critical One Makes Strategic Uranium Asset Divestment
Globenewswireยท2025-06-12 04:01