Critical One Closes Private Placement

Critical One Closes Private Placement

Benzinga
June 26, 2025

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, June 26, 2025 (GLOBE NEWSWIRE) -- Critical One Energy Inc. (formerly Madison Metals Inc.) ("Critical One" or the "Company") (CSE:CRTL) (OTCQB:MMTLF) (FSE: 4EF0) is pleased to announce that, further to the press release issued on June 9, 2025, the Company has closed its non-brokered financing and issued 2,500,000 units (the "Units") at a price of CDN$0.40 per Unit for aggregate gross proceeds of CDN$1,000,000 (the "Private Placement").

Each Unit consists of one (1) common share in the capital of the Company (a "Common Share") and one-half (1/2) common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each full Warrant entitles the holder thereof to purchase one Common Share for a price of CDN$0.60 for a period of eighteen (18) months from the date of issuance.

As part of the Private Placement, one director participated for an aggregate value of CDN$92,000 and received 230,000 Units (the "Related Party").

The issuance of Units to the Related Party constitutes a "related party transaction" as such term is defined by Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on the exemption from the MI 61-101 valuation and minority approval requirements for related party transactions under sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the issuance of Common Shares to Related Parties, exceeds 25% of the Company's market capitalization (as determined under MI 61-101).

All securities issued pursuant to the Private Placement described above will be subject to a four-month and one-day hold ...

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