Critical Resources Limited Secures AU$10.2 million to Expand Mavis Lake Resource

Critical Resources Limited (ASX: CRR) has successfully raised AU$10.2 million through a capital raise that includes both Flow-Through Share and Institutional placements. The funds will be directed towards furthering the development of the Mavis Lake Lithium Project, which is wholly owned by the company AU$7.9 million of the totals raised will come from the Flow-Through Share placement, utilizing the Canadian tax law provisions.

Flow-through shares will be sold via a block trade agreement to select institutional and sophisticated investors. This financing will support an 18-month drilling campaign at Mavis Lake, with a focus on expanding the current Mineral Resource Estimate. Additionally, AU$2.3 million will be raised through an Institutional placement, which will be allocated to corporate and administrative expenses not qualifying for flow-through provisions under Canadian Tax Law. The placements aim to minimize dilution of issued capital.

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