Critical Metals (CRML, Financial) has successfully raised approximately $2 million by exercising warrants that allow the purchase of 400,000 ordinary shares at $5.00 each. These warrants were originally given to investors during the company's initial public listing. As part of this exercise, the company also lifted restrictions on an additional 1.2 million shares, which were previously at risk of forfeiture, in accordance with the original agreements with investors.
The funds generated from this warrant exercise are intended to support Critical Metals Corp's ongoing mineral development projects, particularly those based in Greenland and Europe. This strategic move is aimed at accelerating the company's growth in the critical minerals sector.