Critical One Energy closes second tranche of flow-through placement

Critical One Energy Inc. (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF) has closed the second tranche of a non-brokered flow-through private placement, issuing 1,000,000 flow-through common shares at CDN$1.10 per share for gross proceeds of CDN$1,100,000.

The second tranche brings the total offering to 6,116,910 flow-through shares for aggregate gross proceeds of CDN$6,728,601. The first tranche closed on July 31, 2026, raising CDN$5,628,601 through the issuance of 5,116,910 shares at the same price of CDN$1.10 per share.

In connection with the second tranche, the company paid CDN$66,000 in finder's fees and issued 60,000 common share purchase warrants. Each warrant is exercisable at CDN$1.65 per share for 18 months from the closing date.

The company stated it intends to use the proceeds to incur eligible Canadian exploration expenses qualifying as flow-through mining expenditures under Canada's Income Tax Act. All securities issued under the offering are subject to a four-month and one-day hold period.

Critical One Energy is a Canadian critical minerals and upstream energy company. Its assets include the Howells Lake Antimony-Gold Project and uranium and copper assets in Namibia.

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