Critical Metals announces $50M PIPE financing

Critical Metals (CRML) entered into a securities purchase agreement with a fundamental institutional investor to raise $50,000,000 of gross proceeds via a private investment in public equity transaction. The Company intends to use the net proceeds from the offering to help fund the development of its 4.7B metric ton rare earth deposit, Tanbreez, in Greenland. Under the terms of the securities purchase agreement, the Company is issuing, for an aggregate purchase price of $50M, an aggregate of 1.47M ordinary shares and pre-funded warrants to purchase an aggregate of approximately 1.56M shares. The shares and warrants are subject to resale registration rights.