Krait Critical Minerals Corp announced an agreement to acquire Nevada Hills Antimony LLC, which holds rights to the Bales Antimony Project in Okanogan County, Washington, and related claims.
Under the transaction, Krait will issue 2,500,000 shares to Nevada Hills members at a deemed price of $0.87 per share and pay $100,000 in cash. A previously paid exclusivity fee of $25,000 will be credited, leaving $75,000 payable at closing.
The Bales project claims will not transfer at closing. Instead, they will be conveyed to Nevada Hills after Krait pays a $225,000 purchase price and a 2.0% net smelter return royalty.
Assets transferred include Nevada Hills' rights under the Bales mineral‑property purchase agreement, nine contiguous mineral claims, and four claims comprising the Antimony Bell Project.
Separately, Krait is conducting a non‑brokered private placement to raise up to $1.5 million by issuing up to 2,000,000 shares at $0.75 each. Proceeds are earmarked for exploration at the Goldbar Spider Lake Project in Ontario and reconnaissance work on the newly acquired antimony projects.
Historical records note stibnite mineralization near Carlton, but Krait has not independently verified the geology. The company cautioned that historic data should not be taken as current resource estimates.
The announcement was made on September 8, 2026. Completion of both the acquisition and the private placement remains subject to regulatory approvals and customary closing conditions.
