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Critical One Energy Inc. (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF) ("Critical One" or the "Company") is pleased to announce an upsize to the non-brokered private placement announced on July 21, 2026. Under the amended terms, the Company will now issue up to 6,250,000 flow-through common shares ("FT Shares") at a price of CDN$1.10 per FT Share for gross proceeds of up to CDN$6,875,000 (the "Offering").
"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. It allows us to move the project forward from a position of financial strength," said Duane Parnham, Founder, Executive Chairman and CEO of Critical One.
The Company may pay finder's fees on a portion of the Offering to eligible finders in the form of (i) a cash commission of up to 6.0% of the gross proceeds raised under the Offering, and (ii) common share purchase warrants of the Company ("Finder's Warrants") in an amount up to 6.0% of the FT Shares issued under the Offering. Each Finder's Warrant will be exercisable to purchase one common share in the capital of the Company at a price of CDN$1.65 per common share for a period of eighteen (18) months from the date of closing.
The Company intends to use the gross proceeds from the sale of the FT Shares to incur exploration expenses that are eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada).
The Offering is scheduled to close in two tranches. The first tranche, of up to CDN$5,625,000, is expected to close on or around July 30, 2026. The second tranche, of up to CDN$1,250,000, is expected to close on or around August 14, 2026. All securities issued pursuant to the Offering described above will be subject to a four-month and one-day hold period.
About Critical One Energy Inc.
Critical One Energy Inc. is a Canadian critical minerals and upstream energy company focused on metals essential to energy, technology and national defence supply chains. The Company is advancing the Howells Lake Antimony-Gold Project, which provides Critical One with direct exposure to antimony, a critical metal of increasing strategic importance to Western nations, as well as meaningful gold exploration potential across the property. Backed by seasoned management expertise, Critical One is positioned to advance high-value mineral projects aligned with the rising demand for secure critical minerals supply. The Company also holds uranium and copper assets in Namibia, providing additional exposure to critical minerals and energy metals.
Additional information about Critical One Energy Inc. can be found at criticaloneenergy.com and on the Company's SEDAR+ profile at www.sedarplus.ca.
For further information, please contact:
Duane Parnham
Executive Chairman & CEO
Critical One Energy Inc.
+1 (416) 489-0092
ir@criticaloneenergy.com
Media inquiries:
Adam Bello
Manager, Media & Analyst Relations
Primoris Group Inc.
+1 (416) 489-0092
media@primorisgroup.com
Neither the Canadian Securities Exchange nor CIRO accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. Forward-looking information contained in this press release includes, but is not limited to, statements relating to the Company's business strategy and objectives.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that: the Company will have the resources required in order to conduct its business as currently operated.
However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, risks relating to the mining industry in general, and other risks as described in the Company's continuous disclosure record on SEDAR+.
Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. The Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.
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