Critical Minerals Group (ASX:CMG) has completed its Share Purchase Plan, closing on 4 November 2026 and raising $125,000 (before costs) through the issue of 2,083,325 new fully paid ordinary shares at $0.06 per share, with proceeds directed towards Definitive Feasibility Study workstreams for the Lindfield Vanadium Project.

Key Points

  • The SPP raised $125,000 (before costs) from 16 valid applications, with all applications accepted in full and no scale-back applied.
  • 2,083,325 new fully paid ordinary shares were issued on 9 November 2026 at $0.06 per share, the same price as the previously announced Placement.
  • Total shares on issue following the SPP stand at 137,547,473, up from 135,464,148 before the SPP.
  • SPP proceeds are intended to be applied alongside the approximately $1.25 million Placement towards Definitive Feasibility Study workstreams for the Lindfield Vanadium Project.

Share Purchase Plan Completion and Share Issuance

The SPP, announced on 19 October 2026 and offered under an SPP offer booklet released on 21 October 2026, closed at 5:00pm Sydney time on Wednesday, 4 November 2026. The Company received 16 valid applications from eligible shareholders. All valid applications were accepted in full, and no scale-back was applied. The New Shares were issued on 9 November 2026 under Exception 5 of ASX Listing Rule 7.2, ranking equally with the Company's existing fully paid ordinary shares. Quotation of the New Shares on ASX and dispatch of holding statements were expected on Tuesday, 10 November 2026.

Intended Use of SPP and Placement Proceeds

According to the filing, the SPP proceeds, together with the Placement, are intended to be applied towards Definitive Feasibility Study workstreams for the Lindfield Vanadium Project. Specified workstreams include the drill program and bench-scale metallurgical testing, the advancement of the Environmental Impact Statement and mining lease application, and general working capital and the costs of the offer. The SPP adds to the approximately $1.25 million Placement that was announced on 19 October 2026.

Capital Structure and SPP Shortfall Arrangements

Following the issue of SPP shares, the Company has 137,547,473 fully paid ordinary shares on issue. The Company also has 31,172,607 unlisted options on issue, comprising 20,100,000 exercisable at $0.205 expiring 30 June 2028, and 11,072,607 exercisable at $0.12 expiring 1 March 2029. These options are not affected by the SPP. The Directors reserve the right to place the SPP shortfall of up to 11,250,008 New Shares at no less than the SPP issue price of $0.06, subject to compliance with the Corporations Act 2001 and the ASX Listing Rules, including any available placement capacity or shareholder approval.