Critical One Energy Upsizes Flow-Through Private Placement to Gross Proceeds of up to C$6.9 Million
Critical One Energy (CRTL.CN) upsized its non-brokered private placement to gross proceeds of up to around C$6.87 million from up to around C$5.56 million, it said Friday.The company will now issue up to 6.25 million flow-through shares priced at C$1.10 each, the critical minerals and upstream energy company said in a news release.The offering is expected to close in two tranches, with the first of up to C$5.63 million, expected to close on or around July 30. The second tranche of up to C$1.25 million is expected to close on or around August 14, said the company.The company plans to use the gross proceeds to incur eligible exploration expenses, added Critical One Energy."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 Chief Executive Officer Duane Parnham.Shares of the company were last seen up C$0.01 to C$1.00 on the Canadian Securities Exchange.Price: $1.00, Change: $+0.01, Percent Change: +1.01%
