Critica Limited has announced it has secured firm commitments to raise approximately A$8 million through a private placement, strongly supported by both new and existing institutional and sophisticated investors. The funds will be raised via the issuance of around 307.7 million fully paid ordinary shares at an issue price of A$0.026 per share. The capital raised will accelerate operational activities at Critica's flagship Jupiter rare earths project in Western Australia, funding the project's Scoping Study and related drilling, metallurgy, and offtake engagement. Board directors are also participating in the placement, contributing $320,000, subject to shareholder approval.
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