Eastport Critical Metals closes $2-million financing

Executive Summary

• Eastport Critical Metals Corp. has closed a non-brokered private placement, raising $2 million in gross proceeds.
• The financing was led by Commodity Capital AG and involved the issuance of 2.5 million units at $0.80 per unit.
• Proceeds are designated for exploration and development activities at projects in Botswana and for general working capital.

Key Details

• Gross Proceeds: $2,000,000 CAD.
• Units Issued: 2,500,000 units.
• Price Per Unit: $0.80 CAD.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant is exercisable into one common share at an exercise price of $1.00 CAD.
• Warrant Expiry: Three years from the date of issuance, subject to adjustment in certain events.
• Lead Investor: Commodity Capital AG.
• Use of Proceeds: Exploration and development activities at the company's projects in Botswana and general working capital purposes.
• Hold Period: All securities are subject to a statutory hold period of four months and one day from the date of issuance.
• Regulatory Status: Closing remains subject to final approval from the TSX Venture Exchange.
• Fees: No finders' fees were paid in connection with the offering.

Notable Quotes

• Burns Singh Tennent-Bhohi, CEO: "The closing of this strategic financing marks a transformative milestone for Eastport, validating the robust foundation we've built over years of preparation and development in Botswana. We are profoundly grateful for the participation of Commodity Capital AG -- one of the world's premier and most successful natural resource investment fund managers -- as it serves as a powerful endorsement of our strategy and potential."
• Burns Singh Tennent-Bhohi, CEO: "Eastport is accelerating ambitious, well-defined exploration and development programs in lockstep with our core objective: develop and distribute... Team morale is strong as we advance multiasset drill campaigns across key critical metals -- copper, uranium and rare earth elements -- for which the company expect to provide updates in the coming weeks."