Krait Critical Minerals - C$1.51 million now raised following closure of second placement tranche
Optimo Capital client Krait Critical Minerals Corp. (CSE: KRIT) has now issued an aggregate of 2,016,099 common shares, at a price of C$0.75 per share, under its ongoing non-brokered private placement. Total gross proceeds now stand at C$1,512,074.25 following the closure of a second tranche.
The placement was increased to a maximum of C$2,000,000 on 16th September 2026, with the company expecting to close the final tranche within around one week, subject to customary closing conditions and any required regulatory approvals.
Optimo Capital successfully supported Krait in this round of financing. To register interest in the remainder of the placement visit THIS LINK
Oscar Mendoza, Chief Executive Officer and Director of Krait, commented:
“With the second tranche now closed, we have raised approximately [C]$1.51 million to support our exploration and evaluation priorities. We appreciate the continued support of our investors as we advance work at Goldbar Spider Lake and assess the antimony opportunities held through Nevada Hills in Washington State.”
Krait intends to use the net proceeds for exploration expenditures at its Goldbar Spider Lake Project in Ontario; continued evaluation of assets held through its wholly owned subsidiary, Nevada Hills Antimony LLC, including interests relating to the Bales Antimony Project and the Antimony Bell Project in Washington State; and for general working capital and corporate purposes.
Along with the placement, cash finder’s fees of C$3,675 were paid and 4,900 non-transferable finder’s warrants were issued as part of the second tranche close. Each finder’s warrant is for one share at an exercise price of C$0.95 for a period of one year from the date of issuance. This follows finder’s fees of C$56,437.50 and 75,250 non-transferable finder’s warrants for the first tranche. The shares and finder’s warrants, together with any common shares issued upon exercise of the finder’s warrants before expiry of the applicable hold period, are subject to a statutory hold period of four months and one day from their respective dates of issuance.
About Krait Critical Minerals Corp.
Krait Critical Minerals Corp. is a Canadian mineral exploration company focused on advancing its Goldbar Spider Lake Project in Ontario while evaluating additional mineral opportunities in North America. The company’s strategy is to combine disciplined project evaluation, modern exploration technologies and responsible field programs to identify and advance high-quality exploration opportunities with the potential to create long-term shareholder value.
Krait’s flagship asset is the Goldbar Spider Lake Project in Ontario’s Thunder Bay Mining Division, approximately 20 kilometres east of Terrace Bay and 30 kilometres west-northwest of Marathon. The 3,636-hectare (approximately 8,985-acre) property comprises 148 mining claims and 171 claim units, and Krait has an option to earn a 100% interest, subject to a 3% net smelter return royalty. Located within the western Schreiber-Hemlo Greenstone Belt, the Project benefits from year-round access via Highway 17, nearby rail and power infrastructure, and proximity to established mining communities and service providers.
Krait acquired Nevada Hills Antimony LLC on 16th September 2026. Through Nevada Hills, Krait holds contractual interests relating to the Bales Antimony Project (the acquisition of Nevada Hills did not give Krait direct ownership of those claims), together with interests in the Antimony Bell Project and other related assets in Washington State. The acquisition expanded Krait’s critical-minerals portfolio to include U.S.-based antimony exploration opportunities.
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Krait Critical Minerals is a client of Optimo Capital Limited.
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