Critical One Energy Inc. has closed the second tranche of its non-brokered private placement, issuing 1,000,000 flow-through common shares at CDN$1.10 per share for gross proceeds of CDN$1,100,000.

The latest closing brings total aggregate gross proceeds from the financing to CDN$6,728,601 through the issuance of 6,116,910 flow-through shares. The company previously closed an initial tranche on July 31, 2026, raising CDN$5,628,601 via 5,116,910 flow-through shares at the same per-share price.

For the second tranche, Critical One paid CDN$66,000 in finder's fees and issued 60,000 common share purchase warrants. Each finder's warrant allows the holder to purchase one common share at CDN$1.65 for an 18-month period from the closing date. All securities issued under the offering are subject to a four-month and one-day statutory hold period.

The company intends to allocate the gross proceeds toward eligible Canadian exploration expenses that qualify as flow-through mining expenditures under the Income Tax Act. The capital supports ongoing work at the Howells Lake Antimony-Gold Project, where Critical One is advancing exploration across the property.

The financing reflects a notable pricing increase compared to previous capital-raising efforts. In October 2025, the company issued flow-through common shares at a price of CDN$1.00 per share, whereas the tranches in the current private placement were priced at CDN$1.10 per share. Activity across the wider region has also seen active advancement, with nearby explorer Bellavista Resources announcing the commencement of drilling at its Pickle Crow gold project within the surrounding district in July 2026.

Read the full announcement: Critical One Energy Announces Completion of Flow-Through Private Placement for Aggregate Proceeds of CDN$6,728,601