Critical One Energy closes CDN$300,000 flow-through private placement

Critical One Energy Inc. (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF) completed a non-brokered private placement offering of 300,000 flow-through common shares at CDN$1.00 per share for gross proceeds of CDN$300,000, according to a company statement.

The company paid CDN$18,000 in finder's fees and issued 18,000 common share purchase warrants in connection with the offering. Each warrant allows the holder to purchase one common share at CDN$1.50 per share for 18 months from the closing date.

Critical One Energy stated it plans to use the proceeds for exploration expenses that qualify as Canadian exploration expenses and flow-through critical mineral mining expenditures under Canada's Income Tax Act. All securities issued are subject to a four-month and one-day hold period.

The Toronto-based company focuses on critical minerals and upstream energy projects, including the Howells Lake Antimony-Gold Project and uranium investment interests in Namibia.

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