Critical Mineral Resources plc has raised £2.925 million via a placing and subscription for an aggregate 129,999,995 new ordinary shares, at a price of 2.25 pence per share.
PROSPECTUS
The placing of 108,888,885 new ordinary shares raised gross £2.45m, while the subscription of 21,111,110 new ordinary shares with a strategic major shareholder raised £475,000.
Each fundraise share also has one warrant attached, exercisable at 4.5p per share.
The company said that the “heavily oversubscribed” fundraise is subject to the Financial Conduct Authority’s approval of a prospectus, which is in its final stages.
Net proceeds will fund continued resource definition drilling, ahead of an inaugural mineral resource estimate during Q3 2026, at its Agadir Melloul copper-silver project in central Morocco.
Critical Mineral also aims to assess new acquisitions in the country.