Critical Elements (OTCQX:CRECF) announces a bought deal offering for 14.92M units at C$1.75/unit for gross proceeds of C$26.10M.
Each unit consisting of one common share and a half-share purchase warrant, wherein warrant holder will be entitled to acquire one share at C$2.50/share for 2 years from closing date.
Underwriters granted 30-days option to purchase additional 15% units.
Net proceeds from the offering will be used to fund the development of the Rose lithium project and for general working capital purposes.
Offering is expected to take place on or about November 25, 2021.