Namibia Critical Metals Secures CDN$450,000 Through Private Placement

Namibia Critical Metals Inc. has successfully closed a non-brokered private placement, raising CDN$450,000. The funding announcement, made on November 28, 2024, details the issuance of 12,857,143 units priced at $0.035 each. Each unit comprises one common share and a half warrant, allowing holders to purchase an additional share at $0.05 until the end of November 2025.

The proceeds from this placement will primarily finance general corporate activities. Notably, two company insiders contributed $266,495 to this round. The shares and warrants have a hold period ending on March 29, 2025. A $1,260 finder's fee was paid to an independent finder.

This financing underlines Namibia Critical Metals' ongoing strategy to advance its Tier-1 Heavy Rare Earth Project, Lofdal, in Namibia, under a joint venture with the Japan Organization for Metals and Energy Security.