08:39 AM EDT, 10/16/2025 (MT Newswires) -- Critical Metals (CRML) said Thursday it has made a deal with an unnamed institutional investor to raise $50 million in gross proceeds via a private investment in a public equity transaction.

Under the terms of the deal, the company said it will issue about 1.5 million shares and pre-funded warrants to purchase around 1.6 million shares.

The company said it plans to use net proceeds from the offering to help fund the development of its 4.7 billion metric ton Tanbreez rare earth deposit in Greenland.

Shares of the company were up more than 13% in recent premarket activity.