Critical One Energy upsizes flow-through placement to CDN$6.875M

Critical One Energy Inc. (CSE: CRTL) (OTCQB: MMTLF) has increased the size of its non-brokered flow-through private placement, originally announced July 21, 2026, to up to CDN$6,875,000, according to a press release from the company.

Under the amended terms, the company will issue up to 6,250,000 flow-through common shares at CDN$1.10 per share. Proceeds will be used to fund Canadian exploration expenses qualifying as flow-through mining expenditures under the Income Tax Act (Canada).

The offering is structured in two tranches. The first, of up to CDN$5,625,000, is expected to close on or around July 30, 2026. The second, of up to CDN$1,250,000, is expected to close on or around August 14, 2026. All securities issued will be subject to a four-month and one-day hold period.

The company may pay finder's fees on a portion of the offering, including a cash commission of up to 6% of gross proceeds and warrants equal to up to 6% of shares issued. Each warrant would be exercisable at CDN$1.65 per share for 18 months from closing.

"The strong institutional support for this oversubscribed financing gives us the runway to keep drilling, follow up on the strong results from Phase I and advance the Howells Lake Antimony-Gold Project through to the end of 2027," said Duane Parnham, Founder, Executive Chairman and CEO.

Critical One Energy is focused on the Howells Lake Antimony-Gold Project in Canada and also holds uranium and copper assets in Namibia.

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