Closing of a $7 Million Funding Round for Critical Elements

Critical Elements Lithium Corp. has completed a private placement to raise C$7 million. This financing was achieved through the sale of 7.5 million common shares at C$0.40 and 6,666,667 flow-through shares at C$0.60. Red Cloud Securities Inc. acted as lead manager for the placement. The funds raised will be used to finance exploration of the Rose lithium-tantalum property, including the Rose West Block and other properties in the Nemaska Belt of Quebec.

The shares issued under this offering are immediately tradable on Canadian markets. Red Cloud's fees amount to CAD $420,000, along with 850,000 warrants. Final approval is pending from the TSX Venture Exchange.