Krait Critical Minerals closes first tranche of private placement
VANCOUVER - Krait Critical Minerals Corp. successfully closed the first tranche of a non-brokered private placement on September 16, 2026, issuing 1,631,100 common shares at $0.75 each for gross proceeds of $1,223,325. The offering was initially set to raise up to $2,000,000 on September 16, 2026. The company anticipates closing a second tranche next week, contingent on customary closing conditions and regulatory approvals.
No warrants were offered to subscribers. Krait paid aggregate finder's fees amounting to $56,437.50 and issued 75,250 non-transferable finder's warrants, allowing holders to acquire one additional common share at $0.95 per share within a one-year period. Krait's CEO and Director, Oscar Mendoza, expressed gratitude for the support shown by investors as they proceed with the offering.
The proceeds will be utilized for exploration activities at the Goldbar Spider Lake Project in Ontario, further evaluation of assets under Nevada Hills Antimony LLC, including interests in the Bales Antimony Project and Antimony Bell Project in Washington State, and general corporate purposes. Krait acquired Nevada Hills on September 16, 2026, which holds contractual rights to acquire underlying Bales claims.
The shares and finder's warrants are subject to a four-month and one-day statutory hold period, plus any applicable CSE restrictions. Krait Critical Minerals is a Canadian mineral exploration company focused on advancing the Goldbar Spider Lake Project in Ontario, a 3,636-hectare property comprising 148 mining claims and 171 claim units in Ontario's Thunder Bay Mining Division.
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