Critical Mineral Resources plc has conditionally raised approximately £250,000 before expenses via a placing.
KM SECURITIES
The placing comprised 12,242,252 new ordinary shares in the company and 8,018,646 treasury shares, at a price of 1.25 pence per new ordinary share.
KM Securities Pty Ltd, in which Critical Minerals non-executive director Russell Thomson is 50% shareholder, acquired 2 million ordinary shares.
Net proceeds will be used to advance the company’s copper-silver Ifri project in the Anti-Atlas, Morocco.
Critical Minerals said it was also in discussions with a “leading global commodity trading group” that wanted the company to act as its Moroccan partner to source and supply “certain minerals for its global supply chain”.
Addendum on 25 March 2024: CMR said that following admission of the 12,242,251 new ordinary shares the company’s enlarged capital will comprise 73,453,509 ordinary shares with 2,666,666 shares remaining in treasury. Voting rights total 70,786,843.