Critical Metals announces $22.5M PIPE financing round to support rare earth and lithium mining
February 11, 2025
Mining development company Critical Metals Corp, headquartered in New York, USA, has entered into a securities purchase agreement for a private investment in public equity (PIPE) financing that is expected to result in gross proceeds of approximately $22.5 million. The company plans to use the funds raised to continue supporting development across its pre-production rare earth and lithium mining projects.
“Critical Metals Corp has accomplished another key milestone by securing additional funding to support the continued execution of our vision to become a leading supplier of critical minerals to the West,” said Tony Sage, CEO and chairman of Critical Metals. “Funds raised through the PIPE will support our efforts in developing both Tanbreez – a game-changing rare earth asset in Greenland – and our Wolfsberg Lithium Project, the first fully permitted lithium mine in Europe.”
Under the terms of the securities purchase agreement, the Company is issuing an aggregate of approximately 4.5 million ordinary shares (PIPE Shares) at an Offer Price of $5.00 per share and warrants to purchase ordinary shares (PIPE Warrants) equal to 100% of the aggregate PIPE Shares, at a strike price of $7.00, each warrant with an expiry date of four years from issue. The shares sold in the private placement are subject to resale registration rights.
“We look forward to welcoming the support of our new investors with deep experience in the metals and mining arena, and delivering long-term value to all of our shareholders,” Sage concluded.
