Krait Critical Minerals closes second tranche, raises $1.51M

Krait Critical Minerals Corp. (CSE: KRIT) (FSE: U0S) has closed the second tranche of its non-brokered private placement, bringing total gross proceeds to $1,512,074.25 through the issuance of 2,016,099 common shares at $0.75 per share, according to a press release.

The second tranche alone involved the issuance of 1,631,100 shares for gross proceeds of $1,223,325. No warrants were issued to subscribers in the second tranche. The company paid $3,675 in cash finder's fees and issued 4,900 finder's warrants, each exercisable at $0.95 per share for one year from issuance.

The offering was previously increased to a maximum of $2,000,000 on September 16, 2026. Krait said it expects to close a final tranche within approximately one week, subject to customary closing conditions and required regulatory approvals.

Net proceeds are intended for exploration at the company's Goldbar Spider Lake Project in Ontario, evaluation of assets held through its wholly owned subsidiary Nevada Hills Antimony LLC — including the Bales Antimony Project and Antimony Bell Project in Washington State — and general working capital.

"With the second tranche now closed, we have raised approximately $1.51 million to support our exploration and evaluation priorities," said Oscar Mendoza, Chief Executive Officer and Director of Krait.

Krait completed its acquisition of Nevada Hills on September 16, 2026. The company noted that Nevada Hills holds contractual rights to acquire the underlying Bales claims, and the acquisition did not give Krait direct ownership of those claims.

Shares and finder's warrants issued in the second tranche are subject to a statutory hold period of four months and one day from their respective dates of issuance.

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