12:18 PM EDT, 06/12/2025 (MT Newswires) -- Critical One Energy ( MMTLF ) ion Thursday said it is reached an option agreement to divest its Khan and Cobra uranium projects in Namibia to Dark Star Minerals (BATT.CN) for cash and shares valued at US$3.5 million over two years.

The company said the divestiture allows Critical One to focus on high-margin, high-demand critical minerals, "thereby optimizing our portfolio for long-term profitability," and reducing Critical One's exposure to market risks.

Upon signing of the Letter of Intent, Critical One received US$10,000 in cash and was issued 200,000 common shares of Dark Star, priced at $0.075 at close of business on June 11.

Dark Star can acquire all of Critical One's interest in the Khan and Cobra Uranium Projects through staged cash payments and share issuances over a two-year period.

"Divesting the company's uranium assets and focusing on the Howells Lake Antimony-Gold Project enhances our shareholder value by strategically refining the company's critical metals and minerals mission," said chief executive Duane Parnham. "I believe this shift in our critical metals strategy aligns with global market trends driven by the energy transition, and will offer higher growth potential and improved returns."

Critical One shares were last seen down $0.015 to $0.465 on the Canadian Securities Exchange.

Price: 0.47, Change: -0.02, Percent Change: -3.12