[Ferro-Alloys.com] Critical Minerals Group raises $1.5 million to advance vanadium electrolyte strategy

Critical Minerals Group (ASX:CMG) has secured binding subscriptions to raise $1.5 million before costs through a strongly supported two-tranche placement, with funds to be used toward its integrated vanadium supply chain strategy.

The company will issue 20,689,655 new fully paid ordinary shares at $0.0725 per share to sophisticated, professional and other exempt investors.

The placement price represents a 14.71% discount to CMG’s last closing price of $0.085 on 17 June 2026 and a 20.85% discount to the 5-day VWAP of $0.0916.

Tranche 1 will raise $1.13 million through the issue of 15,596,648 new shares under the company’s existing ASX Listing Rule 7.1 placement capacity.

Tranche 2 will raise the remaining $369,243 through the issue of 5,093,006 new shares, subject to shareholder approval at a general meeting.

Investors will also receive 1 free attaching unlisted option for every 2 new shares subscribed for. The options will be exercisable at $0.12 and will expire 30 months from the date of issue, subject to shareholder approval.

Up to 11,179,861 options are expected to be issued.

In addition to the placement, directors and executives have shown their faith in the project, agreeing to receive up to 1,670,068 new shares in lieu of cash fees, representing an aggregate amount of $121,080.

Where the funds will go

The money raised will support CMG’s strategy to develop an integrated vanadium business spanning upstream resources and downstream battery-grade vanadium electrolyte production.

Funds will be used to progress and negotiate offtake agreements for vanadium electrolyte supply with vanadium flow battery manufacturers and data centre counterparties.

The company also intends to plan and engage partners for the start of Definitive Feasibility Study workstreams at the Lindfield Vanadium Project in Queensland.

Additional work will include advancing FEED and site selection for a proposed Phase 1 vanadium electrolyte facility with capacity of 24 million litres per annum. Parkes SAP in New South Wales, as well as potential sites in the USA and UK, are under assessment.

CMG will also progress Lindfield West tenure application and resource definition activities, while using part of the funds for general working capital and placement costs.

Lindfield Vanadium Project

CMG’s flagship Lindfield Vanadium Project is at Julia Creek in Queensland and hosts a substantial JORC mineral resource within the Toolebuc Formation.

The project is a major part of CMG’s plan to develop upstream vanadium resources alongside downstream battery-grade vanadium electrolyte manufacturing capability, targeting the growing market for vanadium flow batteries and long-duration energy storage.

Managing director Scott Winter said the raise would strengthen CMG’s balance sheet and provide flexibility to advance its integrated vanadium strategy.

“In particular, the funds will support continued engagement with potential offtake partners, planning for the next phase of development at the Lindfield Vanadium Project, and workstreams associated with the company’s proposed vanadium electrolyte facility,” Winter said.

“We are pleased with the strong support received from new and existing investors and the commitment from directors and executives to receive shares in lieu of cash remuneration.”

What’s next

CMG expects Tranche 1 settlement on June 26, 2026, with issue and quotation of Tranche 1 shares scheduled for June 29, 2026.

The company plans to dispatch a notice of general meeting on July 6, 2026, with the meeting to approve Tranche 2 and the options expected on August 6, 2026.

Settlement of Tranche 2 is scheduled for August 10, 2026, followed by the issue and quotation of Tranche 2 shares and issue of options on August 11, 2026.

About Critical Minerals Group

Critical Minerals Group is a Brisbane-based critical minerals company focused on developing an integrated vanadium supply chain for vanadium flow batteries and long-duration energy storage.

The company is pursuing a staged development pathway across Lindfield project development, offtake engagement and planning for a Phase 1 vanadium electrolyte facility, with a focus on supplying secure, Western-sourced vanadium products to energy storage customers.

• [Editor:tianyawei]