Critical One Energy's Successful CDN$7.65 Million Fundraising
Critical One Energy Secures CDN$7.65 Million in New Funding
Critical One Energy Inc. (formerly Madison Metals Inc.) (CSE: CRTL) (OTCQB: MMTLF) has successfully arranged a non-brokered private placement offering, raising CDN$7.65 million through the sale of 7,650,000 flow-through common shares at a price of CDN$1.00 each. This oversubscription reflects significant investor confidence in the company's mission to explore and develop critical metals and minerals.
Investment Details and Use of Proceeds
The recent offering allows Critical One to tap into various funds and high-net-worth investors, showcasing the growing interest in critical minerals essential for modern technologies. A portion of the gross proceeds will be dedicated to Canadian exploration expenses, which will classify as flow-through critical mineral mining expenditures.
Finder’s Fees and Incentives
To reward eligible finders for their participation in the Offering, Critical One plans to provide finder’s fees in the form of cash commissions up to 6.0% of gross proceeds, alongside warrants allowing the purchase of additional common shares at a future date, further incentivizing investment in the company.
Focus on the Howells Lake Project
At the heart of Critical One's exploration strategy is the Howells Lake Antimony-Gold Project, situated approximately 200 kilometers from a major mining corridor. This project aims to uncover valuable deposits of antimony, gold, copper, zinc, and other critical base metals. This multi-metal exploration underscores the company’s commitment to diversifying its asset portfolio.
Strategic Positioning and Future Growth
Critical One Energy's strategic positioning allows it to be well-prepared for the rising demand for critical minerals globally. The company aims to leverage its exploration projects, particularly focusing on antimony and the ever-increasing gold market. Moreover, it has established interests in uranium investments in Namibia, showcasing a robust international footprint.
Experienced Management Team
Backed by a team of seasoned professionals, Critical One is poised to navigate the complexities of the mining sector effectively. Their expertise will be instrumental in driving the value of its projects and ultimately delivering returns to shareholders by enhancing both project yield and operational efficiency.
Upcoming Milestones and Closing of Offering
The Offering, scheduled for completion by mid-October, symbolizes not only a financial milestone but also a commitment to advancing the exploration timeline for the Howells Lake Project. With a hold period of four months and one day post-sale, the company seeks to leverage the raised capital swiftly to initiate further exploration activities.
Company Overview and Future Aspirations
Critical One Energy Inc. is a forward-looking company focused on driving advancements in clean energy through the exploration of critical minerals. The Howells Lake Project, with its rich potential for antimony and gold, will significantly contribute to Canada’s broader resource extraction objectives and the global supply of essential materials. The company continues to explore innovative pathways to satisfy increasing demands for sustainable energy sources and mineral resources.
Contact Information
For accurate insights into company operations and future projects, interested parties may reach out to Duane Parnham, Executive Chairman & CEO, at +1 (416) 489-0092, or via email at ir@criticaloneenergy.com.
Frequently Asked Questions
What is the purpose of the CDN$7.65 million private placement?
The funds will be used to incur eligible Canadian exploration expenses, focusing on critical minerals needed for modern technology.
What projects is Critical One Energy focusing on?
The primary focus is the Howells Lake Antimony-Gold Project, exploring for antimony, gold, copper, and other essential base metals.
How will the company reward finders who refer investors?
Eligible finders may receive a cash commission and warrants that allow them to purchase common shares at a defined price, further promoting community investment.
When is the Offering scheduled to close?
The Offering is expected to close around mid-October, aiming to secure timely investments for the company’s exploration initiatives.
How is Critical One Energy positioned in the market?
With a focus on essential minerals and seasoned management, Critical One is strategically positioned to meet the demands of the global market for critical resources.
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