This is a paid press release. Contact the press release distributor directly with any inquiries.
Critical One Energy Negotiates C$425 Million Investment and Offtake Agreement, Positioning Its Howells Lake Project as a Strategic Canadian Supply Chain Partner for Antimony
- CRTL.CN
- CTLOF
- 4EF.F
Toronto, Ontario–(Newsfile Corp. – October 29, 2026) – Critical One Energy Inc. (CSE: CRTL) (OTCQB: CTLOF) (FSE: 4EF) (“Critical One” or the “Company“) is pleased to announce that it has signed a binding memorandum of understanding (the “MOU”) with Solar International Core Canada (“SICC”), a strategic investment and operating firm with institutional financing partnerships that include the Sultanate of Oman Sovereign Wealth Fund. The MOU positions Critical One as a co-development partner in building a Canadian critical minerals supply chain and brings C$25 million of strategic capital, a construction financing facility of up to C$400 million and a future antimony offtake agreement to the Company’s flagship Howells Lake Antimony-Gold Project (“Howells Lake Project” or “Howells Lake”). Located in the homelands of the Eabametoong First Nation (“EFN”), Thunder Bay Mining Division, Howells Lake is approximately 120 kilometres west of the Ring of Fire access corridor in northwestern Ontario, Canada.
The MOU brings together SICC as the principal capital and offtake partner and Northlink Development Group Inc. (“Northlink”) as the developer and project manager of the planned Ontario antimony processing facility. Through this partnership, Critical One participates as both a future antimony feedstock supplier from Howells Lake and a carried equity partner in the facility.
-
Strategic equity position:C$15 million from SICC at C$1.20 per share for 12.5 million common shares without warrant exposure, representing a 48% premium to the closing price on Wednesday, October 28, 2026 (C$0.81), for a 12% interest on a fully diluted basis. SICC has agreed to a 12-month voluntary lock-up.
-
Board position: SICC may nominate one director to Critical One’s Board of Directors.
-
Mine construction finance: SICC shall use commercially reasonable efforts to deliver to Critical One, within ninety (90) days of signing the MOU, to provide an indicative term sheet for a construction debt facility of up to C$400 million to fund industrial mine and plant infrastructure.
-
Ontario processing facility: Establishes a strategic commercial alliance wherein Howells Lake antimony feedstock is integrated with the Ontario processing facility being developed by Northlink, with SICC funding a C$10 million commitment representing Critical One’s carried equity interest in the processing facility.
-
Future antimony supply:Exclusive offtake rights to purchase up to 150 million pounds of future antimony production from Howells Lake, at international benchmark prices. It is noted that future production is not guaranteed and Howells Lake does not have an NI 43-101 compliant resource.
