Critical One Announces $2.0 Million Non-Brokered Private Placement

Critical One Announces $2.0 Million Non-Brokered Private Placement

Benzinga
August 11, 2025

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, Aug. 11, 2025 (GLOBE NEWSWIRE) -- Critical One Energy Inc. (formerly Madison Metals Inc.) ("Critical One" or the "Company") (CSE:CRTL) (OTCQB:MMTLF) (FSE: 4EF0) is pleased to announce that it has arranged a private placement financing consisting of the sale of up to 3,400,000 units (the "Units") in the capital of the Company at a price of CDN$0.60 per Unit for aggregate gross proceeds of up to CDN$2,040,000 (the "Offering").

Each Unit consists of one (1) common share in the capital of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). One Warrant entitles the holder thereof to purchase one Common Share in the capital of the Company for a price of CDN$1.00 for a period of eighteen (18) months from the date of closing.

All securities issued pursuant to the Offering described above will be subject to a four-month and one-day hold period.

The Offering is scheduled to close on or about August 18, 2025, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals.

The proceeds from the Offering will be used by the Company for activities directly relating to activities at the Howells Lake Antimony Gold-Project, primarily for verification drilling, permitting, to further strengthen the Company's balance sheet, to pursue corporate strategies and for general working purposes.

Board Changes

Critical One's Board of Directors now consists of Duane Parnham, Roger Laine, Shawn Parnham and Chet Idziszek, as Suzanne Wood and Victoria Donato failed to receive sufficient shareholder votes for re-election at the Company's July 21, 2025 annual general meeting.

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