Critical One Energy's Antimony Financing Goes Oversubscribed, Upsized to CDN$6,875,000 in Three Days

Critical One Energy Inc. (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF) upsized its non-brokered flow-through private placement to CDN$6,875,000 on July 24, 2026 — three days after the original July 21 announcement targeted CDN$5,565,000.

The raise went oversubscribed. The new total is up to 6,250,000 flow-through common shares, all priced at CDN$1.10 per share — a premium to the July 20 closing price of CDN$0.93, per the company's July 24, 2026 news release on Junior Mining Network.

The offering closes in two tranches: up to CDN$5,625,000 expected on or around July 30, 2026, and up to CDN$1,250,000 expected on or around August 14, 2026. Finder's fees of up to 6.0% cash commission and warrants covering up to 6.0% of shares are permitted. All securities carry a four-month and one-day hold period.

Founder, Executive Chairman and CEO Duane Parnham framed what the capital means for the project: "The strong institutional support for this oversubscribed financing gives us the runway to keep drilling, follow up on the strong results from Phase I and advance the Howells Lake Antimony-Gold Project through to the end of 2027. It allows us to move the project forward from a position of financial strength."

The July 7, 2026 drill release from the Howells Lake Antimony-Gold Project — located in the Thunder Bay Mining Division of northwestern Ontario, approximately 120 kilometres west of the Ring of Fire access corridor — reported Hole 7 grading 27.35% Sb over 4.17 metres, including 1.1 metres at 70.3% Sb, per Investing News Network's July 7, 2026 coverage. Holes 1 and 2 returned near-surface hits including 1.09 metres at 3.10% Sb from 26.29 metres depth. Hole 16 showed visual massive stibnite from 105.4 metres to 159.0 metres, flagged as indicating a northeast extension. The first Phase I hole (HWL-2026-001), completed to 201 metres, confirmed broad near-surface mineralization with multiple zones of stibnite beginning at just 24 metres downhole.

The project carries a historical resource of 1.7 million tons at 1.4% antimony with associated gold mineralization, and the company describes it as one of Canada's largest known undeveloped antimony systems, per criticaloneenergy.com.

On the balance sheet, Critical One enters this drill push with a C$9 million 2026 drill and technical budget, no corporate debt, approximately 31% of shares insider-held, and approximately 16% held by institutions, per the company's profile at criticaloneenergy.com.

The broader market backdrop heading into the week of July 28 is not frictionless. The Nasdaq fell 2% over the five trading days ended July 24, 2026, per CNBC's July 24 market outlook, and the Roundhill Magnificent Seven ETF (MAGS) dropped more than 5% over the same period as AI capital expenditure concerns weighed on large-cap tech. The S&P 500 closed July 24 at 7,411.98 and the Nasdaq at 24,975.82, per CNBC. The Federal Reserve's July 29 rate decision adds another variable: Fed Governor Christopher Waller's recent remarks, flagged by Intellectia.ai, signaled the central bank's focus has "completely flipped" from labor market concerns to inflation containment, intensifying speculation about a potential rate hike.

The July 24 news release states the offering was oversubscribed and priced at a premium to the July 20 close; Parnham attributed the result to "strong institutional support" in his quoted statement.

Next concrete milestone per the July 24, 2026 news release: first tranche closing on or around July 30, 2026.