Critical Metals Corp Raises $35M for Greenland Rare Earths Project
Critical Metals Corp, a leading mining development company, has raised $35 million via a PIPE transaction. The funds will be used to develop the Tanbreez deposit in Greenland, one of the world's largest rare earth deposits. The U.S. government supported the company with a $35 million investment.
The Company issued 5 million ordinary shares and warrants to purchase 10 million ordinary shares. The strike price of the warrants is $7.00 per share, expiring 6 years from the issue date. Jett Capital Advisors and Cohen & Company Capital Markets acted as Placement Agents, while Clear Street served as Financial Advisor and White & Case LLP as legal counsel. Critical Metals Corp is poised to become a key supplier of critical minerals for defense, clean energy, and next-generation technologies in the western world.
With the raised funds, Critical Metals Corp will focus on developing the Tanbreez deposit, a significant rare earth resource. The U.S. government's investment underscores the strategic importance of the project. The Company is well-positioned to meet the growing demand for critical minerals.
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