TORONTO, March 11, 2025 (GLOBE NEWSWIRE) -- Critical One Energy Inc. (formerly Madison Metals Inc.) (“Critical One” or the “Company”) (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF0) is announcing the expiration of its previously announced deal with Star Minerals Limited (“Star Minerals”) (ASX: SMS) to earn into Exclusive Prospecting Licence 8531 (the “Cobra Uranium Project”) at Madison North near the world-renowned Rossing Uranium Mine in the Erongo Uranium Province, Namibia.
Under the terms of the agreement announced on September 19, 2024, Star
Minerals had the opportunity to earn up to a 51% interest in the Cobra Uranium Project through staged cash payments, the issuance of common shares to the Company, and expenditures on the Cobra Uranium Project. In December 2024, Star Minerals requested an extension of the closing to early March 2025. Star Minerals did not meet its commitment and therefore did not earn any interest in the Cobra Uranium Project.As a result, Critical One continues to hold an 85% interest in the Cobra Uranium Project and received a US$40,000 non-refundable deposit, a US$75,000 payment and 5.3 million common shares of Star Minerals.
About Critical One
Critical One Energy Inc. (formerly Madison Metals Inc.) is a forward-focused critical minerals and upstream energy company, powering the future of clean energy and advanced technologies. Backed by seasoned management expertise and prime resource assets, Critical One is strategically positioned to meet the rising global demand for critical minerals and metals. Its mine exploration portfolio is led by antimony in Canada and uranium in Namibia, Africa. By leveraging its technical, managerial, and financial expertise, the Company upgrades and creates high-value projects while joint-venturing non-core assets to generate cash flow, driving growth and delivering value for its shareholders.
Additional information about Critical One Energy Inc. can be found at madisonmetals.ca and on the Company’s SEDAR+ profile at sedarplus.ca.
No comments:
Post a Comment