Announcement of successful $1.70m placement at $0.15 per share

Critical Minerals Group Limited (ASX: $CMG) has successfully secured firm commitments from sophisticated and professional investors for a placement of $1.70 million at a price of $0.15 per share. The placement, which represents an 18.9% discount to the Company's last traded price, will see two new notable investors, FKG Group and the Wattlestone Family Office, join the register. The largest shareholder, Idemitsu Australia, has also shown continued support by contributing $547k to maintain their 32.22% holding. The funds raised will be utilized to develop the Company's electrolyte manufacturing business and advance the Lindfield Vanadium Project through pilot plant planning, feasibility studies, and environmental assessments.

Executive commentary on the placement and strategic developments

We are pleased to welcome our new shareholders and thank our existing investors for their support as we continue to advance our strategy through developing our projects. Following the positive results of our Scoping Study, we are excited to progress the feasibility studies as we work towards our strategy to manufacture vanadium electrolyte for batteries using vanadium pentoxide from the Lindfield Vanadium Project production and become a leading Australian participant in the long-duration energy storage space.

Summary of placement and future outlook

Critical Minerals Group Limited (ASX: $CMG) has successfully raised $1.70 million through a placement, with the participation of new investors and continued support from the largest shareholder. The funds will be directed towards the development of the Company's electrolyte manufacturing business and the advancement of the Lindfield Vanadium Project. The Company aims to produce vanadium electrolyte for batteries and establish itself as a key player in the long-duration energy storage sector. With a focus on critical minerals projects, CMG is strategically positioned to meet the growing demand for minerals in the phase of decarbonisation and electrification, aligning with the global transition towards a more renewable future.