Critical Metals announces gross proceeds of $2M from exercise of warrants

Critical Metals (CRML) announced the exercise of outstanding warrants to purchase 400,000 ordinary shares of the Company at an exercise price of $5.00 per warrant. The warrants were initially issued to investors at the time of the consummation of the Company’s initial public listing on Nasdaq. In connection with the exercise of the warrants, and pursuant to the terms of the original agreement entered into with the investors, the Company removed contractual restrictions on an additional 1,200,000 ordinary shares that were otherwise subject to forfeiture. In connection with the exercise of the warrants, the Company has received gross proceeds of approximately $2M. Critical Metals Corp intends to use the net proceeds from the warrant exercise primarily to help advance the development strategies of its critical mineral projects in Greenland and Europe.