Critical Metals signs $35M private investment in public equity

Critical Metals (CRML) entered into a securities purchase agreement with a fundamental institutional investor to raise $35,000,000 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 4.7 billion metric ton rare earth deposit, Tanbreez, in Greenland. Under the terms of the securities purchase agreement, the Company will issue, for an aggregate purchase price of $35,000,000, an aggregate of 5 million ordinary shares and warrants to purchase 10 million ordinary shares at a strike price of $7.00 per share, with an expiration date of 6-years from the issue date of the PIPE Warrants. The Issued Shares and the PIPE Warrant Shares are entitled to customary resale registration rights. The closing of the PIPE is subject to customary closing conditions for financing of this nature. Jett Capital Advisors, LLC, and Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC acted as Placement Agents for the Private Placement. Clear Street acted as Financial Advisor.