Business
US Critical Metals Announces Closing of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - April 25, 2025) - US Critical Metals Corp. (CSE: USCM) (OTCQB: USCMF) (FSE: 0IU) ("USCM" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement offering (the "Offering") of units of the Company (each, a "Unit"), pursuant to which the Company issued 5,100,000 Units at a price of $0.10 per Unit for aggregate gross proceeds of $510,000. Each Unit is comprised of one ...
About this update from Us Critical Metals Corp.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - April 25, 2025) - US Critical Metals Corp. (CSE: USCM) (OTCQB: USCMF) (FSE: 0IU) ("USCM" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement offering (the "Offering") of units of the Company (each, a "Unit"), pursuant to which the Company issued 5,100,000 Units at a price of $0.10 per Unit for aggregate gross proceeds of $510,000.","length":494,"tagName":"p"},{"type":"text","content":"Each Unit is comprised of one common share in the authorized share structure of the Company (each, a "Common Share") and one common share purchase warrant of the Company (each, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.125 for a period of 24 months from the date of issuance. The Common Shares and Warrants issued under the Offering are subject to a hold period of four months plus one day from the date of issuance pursuant to applicable securities laws in Canada. No finder's fees were paid in connection with the Offering.","length":622,"tagName":"p"},{"type":"text","content":"The Company intends to use the proceeds from the Offering for exploration of the Clayton Ridge Lithium Project, the Sheep Creek Rare Earth Project, the Haynes Cobalt Project, the Long Canyon Vanadium and Uranium Project and the McDermitt East Lithium Project and for general and working capital purposes.","length":304,"tagName":"p"},{"type":"text","content":"Certain of the Company's directors and officers (the "Insiders") participated in the Offering and acquired an aggregate of 650,000 Units. The transactions by the Insiders constitute "related party transactions" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as they are distributions of securities for cash and the fair market value of the Units issued to, and the consideration paid by, the Insiders did not exceed 25% of the Company's market capitalization. No new insiders were created, nor any change of control occurred, as a result of th...