203 Million Shares Issued at $0.026 Each in Critica’s Capital Raise
Critica Limited has completed the first tranche of its $8 million placement, issuing over 203 million shares to accelerate development at its Jupiter rare earths project. The second tranche awaits shareholder approval in January 2026.
- First tranche placement completed with 203 million shares issued at $0.026 each
- Free attaching options issued exercisable at $0.043 within two years
- Second tranche subject to shareholder approval expected mid-January 2026
- Placement conducted under existing ASX placement capacity
- Cleansing notice confirms compliance with Corporations Act requirements
Placement Completion Accelerates Jupiter Project
Critica Limited (ASX, CRI) has taken a significant step forward in funding its flagship Jupiter rare earths project by completing the first tranche of an $8 million two-tranche placement. On 21 November 2025, the company issued 203,062,884 fully paid ordinary shares at an issue price of $0.026 per share, raising approximately $5.3 million. This capital injection is earmarked to accelerate operational activities at the project, which is critical in the rare earths sector given the growing global demand for these materials.
Options Sweeten the Deal for Investors
Alongside the shares, Critica issued an equal number of free attaching options, exercisable at $0.043 per share within two years. These options provide investors with potential upside should the company’s share price appreciate, aligning interests between the company and its new shareholders. The issuance of options also reflects a strategic approach to balancing immediate capital needs with future funding flexibility.
Second Tranche Hinges on Shareholder Approval
The completion of the second tranche remains contingent on shareholder approval, which Critica plans to seek at a General Meeting anticipated around 15 January 2026. If approved, the company expects to allot the remaining shares and options by 21 January 2026. This staged approach to capital raising allows Critica to manage dilution and maintain regulatory compliance under ASX Listing Rule 7.1, which governs placement capacity without shareholder approval.
Regulatory Compliance and Market Confidence
Critica has issued a cleansing notice confirming that the placement shares were issued without disclosure under Part 6D.2 of the Corporations Act, but that the company has complied with all relevant provisions, including those related to continuous disclosure and excluded information. This transparency is crucial in maintaining investor confidence and ensuring the company’s ability to raise capital efficiently in the future.
Looking Ahead
With the first tranche secured, Critica is positioned to advance its Jupiter project development, a key asset in the rare earths mining sector. However, the market will be watching closely for the outcome of the shareholder vote on the second tranche, which will determine the full extent of the company’s capital raising success and its capacity to fund upcoming operational milestones.
Bottom Line?
Critica’s next moves hinge on shareholder approval, setting the stage for Jupiter’s development and potential market shifts.
Questions in the middle?
- Will shareholders approve the second tranche in January 2026?
- How will the exercise of options impact future dilution and share price?
- What specific operational milestones will the raised capital enable at Jupiter?
