Critical One Extends Payment Terms to Star Minerals
Critical One Extends Payment Terms to Star Minerals
Toronto, ON – December 19, 2024 – Critical One Energy Inc. (formerly Madison Metals Inc.)
(“Critical One”) (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) announces a variation to its Earn -In
and Exploration Rights Agreement (“Agreement”) with Star Minerals Limited (“Star Minerals”)
(ASX: SMS). This amendment enhances payment flexibility while preserving the strategic interests
of both parties.
Under the revised terms, Star Minerals has paid US$75,000 and issued US$200,000 in Star Shares
and Performance Shares, as part of the First Payment. In total,
Critical One has received:
1. 5,227,118 Ordinary Shares
2. 2,466,667 Tranche 1 Performance Shares
3. 1,850,000 Tranche 2 Performance Shares
Additionally, the remaining US$225,000 of the First Payment’s cash component is now due on or
before March 8, 2025. This extension aligns exploration and development activities that are being
planned with drilling at the Cobra Uranium project commencing within Q1 2025.
About Critical One Energy Inc.
Critical One Energy Inc. (formerly Madison Metals Inc.) is a forward-focused critical minerals and
upstream energy company, powering the future of clean energy and advanced technologies.
Backed by seasoned management expertise and prime resource assets, Critical One is
strategically positioned to meet the rising global demand for critical minerals and metals. Its mine
exploration portfolio is led by antimony in Canada and uranium in Namibia, Africa. By leveraging
its technical, managerial, and financial expertise, the Company upgrades and creates high -value
projects while joint venturing non -core assets to generate cash flow, driving growth and
delivering value for its shareholders.
Additional information about Critical One Energy Inc. can be found at madisonmetals.ca and on
the Company’s SEDAR+ profile at sedarplus.ca.
For further information, please contact:
Duane Parnham
Executive Chairman & CEO
Critical One Energy Inc.
+1 (416) 489-0092
Media inquiries:
Adam Bello
Manager, Media & Analyst Relations
Primoris Group Inc.
+1 (416) 489-0092
Neither the CSE nor CIRO accepts responsibility for the adequacy or accuracy of this release.
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However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materia lly
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Company will not be able to proceed with the issuance of units on the terms described in this press release or at all; and that the Company will not
have the necessary resources, financial or otherwise, to conduct the planned exploration activities referenced in this press release.
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