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Other

Critical One Energy Regains Full Control of Uranium and Copper Assets in Namibia, Africa

By The Northwire Desk — AI Analysis Feb 27, 2026 · 06:51 CRTL · 0.89 Critical One Energy Inc.
CRTL · Price

Executive Summary

  • Critical One Energy and Dark Star Minerals mutually terminated their August 7 2025 purchase agreement for the Namibia assets (Khan and Cobra uranium projects).
  • As a result, Critical One will return 14.2 million Dark Star common shares and regains full control of the Namibia assets with no termination fees or penalties.
  • The company refocuses on advancing the Howells Lake Antimony‑Gold Project in Ontario and plans to commence its maiden drill program following recent permit approval.

Key Details

  • Termination Agreement: Mutual consent; original purchase agreement dated August 7 2025 is cancelled.
  • Share Return: Critical One will return 14,200,000 Dark Star common shares previously issued under the agreement.
  • Financial Impact: No termination fees or material penalties payable by either party.
  • Executive Changes: Duane Parnham ends his advisory role with Dark Star effective immediately.
  • Asset Control Restored: Critical One regains 100 % ownership of its Namibia assets, providing flexibility to pursue alternative strategies.
  • Strategic Focus: Emphasis on Howells Lake Antimony‑Gold Project (Thunder Bay Mining District, Ontario) – preparation for maiden drilling after exploration permit approval.
  • Future Plans: Company will formalize and communicate a plan for the Namibia assets; intends to align Namibia asset optionality with Howells Lake program.

Notable Quotes

“The mutual termination of this agreement was the right outcome for Critical One and our shareholders… regaining full control of the Namibia Assets restores meaningful flexibility at the right time,” – Duane Parnham, Founder, Executive Chairman & CEO.

Materiality Assessment: Material – Positive (restoration of asset ownership and strategic refocus are likely to have a positive impact on shareholder value).

Read the original news release →

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