This initiative, backed by convertible note financing led by JBA Asset Management, offers access to $500 million for Bitcoin acquisitions under specified conditions.
Mining company Critical Metals Corp. (TSX-V:CRE,OTCQB:CRECF) is integrating Bitcoin into its financial strategy as a reserve asset, aiming to enhance its financial resilience and capitalize on the growing interest in digital assets among global markets.
The company announced on Monday that it has secured access to $500 million for Bitcoin acquisitions through convertible note financing led by JBA Asset Management.
The initial tranche of $100 million will be fully covered by warrants, while subsequent tranches up to $400 million will have 50% warrant coverage, at the buyers’ discretion.
The convertible notes will be secured by the capital raised and the Bitcoin acquired, and are convertible into Critical Metals shares at $6.00 per share. The warrants will be exercisable at $7.00.
“This initiative complements our role as a key supplier of critical resources, with projects like the Tanbreez Greenland Rare Earth Mine and Wolfsberg Lithium Project serving Western markets,” Sage said in the statement.
Critical Metals will manage its Bitcoin acquisition based on market conditions and cash flow needs, maintaining flexibility to adapt as necessary.
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