Krait Critical Minerals Corp. has completed its acquisition of Nevada Hills Antimony LLC, securing contractual rights to the Bales Antimony Project and additional mineral claims in Okanogan County, Washington.

The transaction follows a six-month exclusivity and standstill agreement originally entered into on May 4, 2026. Under the terms of the securities exchange agreement, Krait paid aggregate cash consideration of US$100,000, which included a US$25,000 exclusivity fee previously paid and credited against the purchase price. The company also issued 2,500,000 common shares at a deemed price of $0.87 per share to the former members of Nevada Hills.

With the transaction finalized, Nevada Hills is now a wholly-owned subsidiary of Krait. The acquired assets include contractual rights under the Bales mineral property purchase agreement, contiguous mineral claims, and the four claims making up the Antimony Bell Project. Krait did not acquire direct ownership of the eight underlying Bales claims upon closing, as those remain subject to fulfilling remaining payment obligations and other terms under an existing property agreement.

“Completion of the Nevada Hills acquisition represents an important milestone for Krait as we continue evaluating antimony opportunities in North America. Through Nevada Hills, the Company has acquired contractual rights relating to the Bales Antimony Project together with additional mineral claims in Washington State. Our immediate focus will be on advancing our legal, technical and property review while continuing to progress the Goldbar Spider Lake Project in Ontario.” — Oscar Mendoza, Chief Executive Officer and Director

Concurrently, Krait has increased its previously announced non-brokered private placement from gross proceeds of up to $1,500,000 to up to $2,000,000. The upsized financing will consist of up to 2,666,667 common shares priced at $0.75 per share, with no warrants attached.

Net proceeds from the offering are earmarked to fund exploration expenditures at the Goldbar Spider Lake Project in Ontario—where the company recently outlined a $250,480 exploration program to test priority targets identified by an airborne geophysical survey—alongside the continued evaluation of the newly acquired Washington assets and general working capital. Completion of the placement remains subject to receipt of all required regulatory approvals from the Canadian Securities Exchange.

Read the full announcement: Krait Critical Minerals Completes Acquisition of U.S. Antimony Project Portfolio and Increases Previously Announced Offering to $2.0 Million