16th Jul 2025 19:26
(Alliance News) - Critical Metals PLC on Wednesday announced an investment by NIU Invest SE amid an "urgent need of capital" as it develops the Molulu copper and cobalt project in the Democratic Republic of Congo.
Shares in the mine developer closed down 48% at 0.40 pence in London on Wednesday.
Critical minerals and green energy technology-focused investor NIU Invest SE will invest up to GBP956,482 by way of subscription for up to 47,824,100 new ordinary shares.
Prior to the subscription, NIU held GBP2.4 million in convertible loan notes.
The board has proposed resolutions to be considered at the general meeting to facilitate the funding.
Further, Critical Metals has announced a retail offer for up to 23.6 million shares to raise GBP472,598.
Funds will allow Critical Metals to continue to trade, carry out a drill campaign at Molulu and analyse the results of that campaign, the company said.
"The board of directors is united in its belief that the proposed NIU subscription, retail offer, and resolutions proposed at the general meeting are in the best interests of the company and all its stakeholders as they provide the capital the company needs to continue to trade and to advance its understanding of the mineral resource located at the Molulu Project," it added.
By Aidan Lane, Alliance News reporter
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