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NEW YORK, Jan. 21, 2025 -- Critical Metals Corp. (Nasdaq: CRML) announced a new bitcoin treasury strategy. The company plans to allocate up to $500 million to purchase BTC, with an initial $100 million tranche secured through convertible note financing led by JBA Asset Management. This financing includes warrants, with 100% coverage for the first tranche and 50% for subsequent tranches. This makes Critical Metals Corp the first Nasdaq-listed critical minerals company to adopt bitcoin as a primary treasury reserve asset.
The convertible notes are secured by the raised cash and any BTC purchased, convertible into common stock at $6.00 per share, with warrants convertible at $7.00. Executive Chairman and CEO Tony Sage stated that this strategy strengthens the balance sheet, creates long-term shareholder value, offers inflation protection and appreciation potential, and aligns with broader western government initiatives around bitcoin adoption. The BTC acquisition will be implemented through a disciplined approach guided by market dynamics and cash flow.
Critical Metals Corp. is a mining development company focused on critical metals and minerals, producing strategic products for electrification and next-generation technologies. Its flagship assets include the Wolfsberg Lithium Project in Austria and the Tanbreez Greenland Rare Earth Mine. Cohen & Company Capital Markets, Jett Capital Advisors, LLC, and Sichenzia Ross Ference Carmel LLP acted as advisors on the transaction.