Critical Minerals Group Limited (ASX: CMG) today announced the successful completion of its Share Purchase Plan (SPP), which closed on Wednesday, 4 November 2026. The Queensland-based vertically integrated vanadium developer, focused on advancing the Lindfield Vanadium Project in north-western Queensland to serve the long-duration energy storage market with vanadium flow batteries, raised a total of $125,000 before costs. This initiative involved the issuance of 2,083,325 new fully paid ordinary shares at an issue price of $0.06 per share, matching the price of the preceding Placement.
The company received 16 valid applications from eligible shareholders, with all applications accepted in full and no scale-back applied. These new shares are scheduled for issuance today, Monday, 9 November 2026, under Exception 5 of ASX Listing Rule 7.2, and will rank equally with the company’s existing fully paid ordinary shares. Quotation on the ASX and dispatch of holding statements are anticipated for Tuesday, 10 November 2026. The SPP proceeds will complement the approximately $1.25 million raised from the Placement announced on 19 October 2026.
Combined, the funds from both the SPP and the Placement are primarily earmarked to commence workstreams for the Definitive Feasibility Study (DFS) at the Lindfield Vanadium Project. This includes funding for the drill program, bench-scale metallurgical testing, the advancement of the Environmental Impact Statement, and the mining lease application. A portion of the funds will also be allocated to general working capital and the costs of the offer. The Directors reserve the right to place the SPP shortfall of up to 11,250,008 new shares at no less than the $0.06 issue price, subject to compliance with relevant regulations.
Following the issuance of the SPP shares, Critical Minerals Group’s total shares on issue will increase to 137,547,473. The Board extended its appreciation to shareholders who participated in the SPP for their ongoing support.
