Namibia Critical Metals Announces CDN$500,000 Private Placement and Appointment of New CFO
Press Release
Namibia Critical Metals Announces
CDN$500,000 Private Placement and Appointment of New CFO
Halifax, Nova Scotia March 3, 2021 - Namibia Critical Metals Inc. (“Namibia Critical Metals”
or the “Company”) (TSXV:NMI) today announced it intends to complete a non -brokered
private placement in the amount of up to $500,000 consisting of units offered at a price of
$0.25 per unit (“Private Placement”) representing a 11% discount to the closing price of the
common shares of the Company on March 1, 2021. Each unit will consist of one common
share and one warrant. Each whole warrant will be exercisable for one common share at a
price of $0.35 for a period of 12 months. A maximum of 4,000,000 common shares of Namibia
Critical Metals will be issued pursuant to the Private Placement (assuming full exercise of all
warrants). The Private Placement is subject to the approval of the TSX Venture Exchange
(“TSXV”).
The proceeds of the Private Placement will be used primarily to fund gold exploration and
general corporate purposes. The common shares and warrants of the Company issu ed
pursuant to the Private Placement will be subject to a four-month hold period.
The Company also announced today that Su sanne Willett will assume the position of Chief
Financial Officer of the Company on April 1, 2021 when Darrin Campbell, the current C FO,
assumes the role of President as announced in the Company’s press release of February 1,
2021. Ms. Willet t also currently serves as CFO for Morien Resources Corp. (TSXV:MOX).
Previously Ms. Willett worked for the New Brunswick Power group of companies as Business
Unit CFO, Director of Financial Planning and Treasury, and Controller, where she directed
business planning, regulatory compliance, management and financial reporting. Ms. Willett
holds a Bachelor of Commerce degree from Dalhousie University in Halifax, Nova Scotia, a
Master of Business Administration from York University in Toronto, Ontario, and qualified as
a CPA, CA.
About Namibia Critical Metals Inc.
Namibia Critical Metals holds a diversified portfolio of exploration and advanced stage projects
in the country of Namibia focused on the development of sustainable and ethical sources of
metals for the battery, electric vehicle and associated industries. The Company also has
significant land positions in areas favourable for gold mineralization.
The Lofdal Heavy Rare Earth Project is the Company’s most advanced project having
completed a Preliminary Economic Assessment in 2014 and full Environmental Impact
Assessment in 2017. An application has been made for a mining licence at Lofdal. The project
is now in joint venture with JOGME C who are funding the current $ 4,100,000 drilling and
metallurgical program with the objective of doubling the resource size and optimization of the
process flow sheet.
2
At the Erongo Gold Project, stratigraphic equivalents to the sediments hosting the re cent
Osino gold discovery at Twin Hills have been identified but not yet sampled. Detailed soil
surveys are planned over this highly prospective area.
The Epembe Tantalum-Niobium Project is also at an advanced stage with a well-defined,
10 km long carbonatite dyke that has been delineated by detailed mapping with over 11,000
meters of drilling. Preliminary mineralogical and metallurgical studies including sorting tests
(XRT), indicate the potential for significant physical upgrading. Further work will be
undertaken to advance the project to a preliminary economic assessment stage.
The Kunene Cobalt-Copper Project comprises a very large area of favorable stratigraphy
(“the DOF”) along strike to the west of the Opuwo Co -Cu-Zn deposit. Secondary copper
mineralization over a wide area points to preliminary evidence of a regional -scale
hydrothermal system. Exploration targets on EPLs held in the Kunene project comprise direct
extensions of the DOF style mineralization to the west, sediment -hosted cobalt and copper,
orogenic copper, and stratabound Mn and Zn-Pb mineralization.
Earlier stage projects include the Grootfontein Project which has potential for magmatic
Cu-Ni mineralization, Mississippi Valley -type Zn-Pb-V mineralization and Otjikoto -style gold
mineralization.
The common shares of Namibia Critical Metals Inc. trade on the TSX Venture Exchange under
the symbol “NMI”.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
For more information please contact -
Namibia Critical Metals Inc.
Darrin Campbell, CFO
Tel: +01 (902) 835-8760
Fax: +01 (902) 835-8761
Email: [email protected]
Web site: www.NamibiaCriticalMetals.com
The foregoing information may contain forward -looking information relating to the future performance of Namibia Rare Earths Inc. Forward -
looking information, specifically, that concerning future performance, is subject to certain risks and uncertainties, and actual results may differ
materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions.