Critical One Energy closes upsized CDN$1.43 million flow-through placement

Critical One Energy Inc. (CSE: CRTL) completed a non-brokered private placement offering of 1,430,000 flow-through common shares at CDN$1.00 per share, raising gross proceeds of CDN$1,430,000.

The placement represents an increase from the company's previously announced offering of up to CDN$1,250,000 for 1,250,000 flow-through shares at the same price, according to a company statement.

In connection with the offering, Critical One paid CDN$75,000 in finder's fees and issued 75,000 common share purchase warrants. Each warrant allows the holder to purchase one common share at CDN$1.50 per share for 18 months from the closing date.

The company plans to use proceeds from the flow-through shares 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.

Critical One intends to close an additional private placement by December 24, 2025, for up to CDN$300,000 through the issuance of up to 300,000 flow-through shares at CDN$1.00 per share. The company may pay cash commissions of up to 6% of proceeds raised and issue warrants for up to 6% of shares issued, with the same CDN$1.50 exercise price and 18-month term.

The Toronto-based company focuses on critical minerals and upstream energy, with operations including the Howells Lake Antimony-Gold Project in Canada and uranium interests in Namibia. Critical One also trades on OTCQB under ticker MMTLF and on the Frankfurt Stock Exchange as 4EF.

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