CCMI Announces Private Placement of up to $1 Million

On November 18, 2025, Canadian Critical Minerals Corp. (CCMI) announced a non-brokered private placement to raise gross proceeds of up to $1,000,000. The financing will consist of up to 28,571,428 units at a price of $0.035 per unit. Each unit includes one common share and one full common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of $0.05 for a period of 60 months (5 years) from the date of issuance.

The proceeds from the offering will be used to complete the application to restart the Bull River Mine project and for general working capital purposes. The company may pay finder's fees in cash and warrants.

The announcement of this private placement is rated as Routine - Neutral. From a critical perspective, this financing is a necessary stop-gap measure for a company with a dwindling cash position. The latest interim financial statements as of August 31, 2025, showed only ~$312,000 in cash. Given the company's net loss and cash outflow from operations, this capital raise is essential to continue operations and, most importantly, advance the permitting application for the Bull River Mine, which is the company's primary value driver.

However, the terms of the financing are not favorable for existing shareholders. - Dilution: The placement is priced at $0.035, a discount to the recent trading price of $0.04. If fully subscribed, it will issue over 28.5 million new shares, representing approximately 9% dilution on top of recent financings. - Warrant Overhang: The inclusion of a full warrant with a five-year term at a $0.05 exercise price creates a significant and long-term potential overhang. This will likely cap share price appreciation above the $0.05 level for the foreseeable future, as any upward momentum could be met with warrant holders selling shares obtained through exercise.

The financing confirms that the revenue generated from selling stockpiled material to New Afton, a program that has now wound down with the return of the ore sorter, was insufficient to fully fund the company's activities. While necessary for survival, this financing continues a pattern of raising small amounts of capital at depressed prices, which perpetually dilutes shareholders. The "up to" $1 million amount is also a relatively small sum, suggesting it will cover near-term costs but that the company will likely need to return to the market for more capital within the next 6-9 months.

Canadian Critical Minerals Inc. is a junior mining company focused on advancing its flagship asset, the Bull River Mine (BRM) project, located near Cranbrook, British Columbia. The BRM is a past-producing underground copper, gold, and silver mine that is currently on care and maintenance. The project has significant existing infrastructure, including a 700-tonne-per-day mill, underground workings, and grid power.

The company's recent strategy involved processing and selling mineralized material from a large surface stockpile to generate revenue to offset costs and fund the mine restart permitting process. This program has largely concluded, and the company's primary focus is now on submitting a permit application to restart full-scale milling and underground mining operations, targeted for Q1 2026.