Critical Infrastructure Technologies Ltd. (CSE: CTTT) (OTC: CITLF) (FRA: X9V) has significantly strengthened its financial position following the successful exercise of company warrants and a deposit received from Critical Metals Corp. relating to the sale of a Nexus 20 platform. The company received a total of $973,685 from the exercise of 3,245,619 warrants at $0.30 each, providing substantial new capital for operational initiatives.
In addition to the warrant proceeds, CiTech has received a $395,600 deposit, representing 30% of the sale price, for a Nexus 20 platform sold to Critical Metals Corp. The unit will be deployed to Critical Metals Corp's Tanbreez Project in Greenland, which is described as one of the world's largest rare earths deposits located in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round shipping access via deep water fjords that lead directly to the North Atlantic Ocean.
CiTech Chief Executive Officer Brenton Scott stated that the injection of capital strengthens the company's ability to accelerate current production and international growth initiatives. "With the injection of these funds, we are financially well placed to complete the build of the five Nexus units currently under construction and escalate our international expansion," said Mr. Scott. The additional capital will support CiTech's manufacturing program, fulfilment of existing customer demand, and continued global market development for its autonomous telecommunications and surveillance platforms.
The financial developments come as CiTech continues to commercialize its autonomous, high-capacity mobile communications and security platforms. The company's technology targets the mining, defence, border security/surveillance and emergency services sectors with its first product release, the Nexus 16, which aims to provide critical mobile telecommunications for such sectors. Using patented technologies, CiTech's self-deploying platform provides a solution for two of the greatest limitations of current rapidly deployable communication solutions: strength of the tower and ability to rapidly self-deploy and operate in numerous situations.
The sale to Critical Metals Corp. represents a strategic partnership with a company focused on critical metals and minerals essential to electrification and next-generation technologies for Europe and its Western world partners. Critical Metals Corp.'s portfolio includes the Wolfsberg Lithium Project located in Carinthia, 270km south of Vienna, Austria, which is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure. The project is expected to be the next major producer of key lithium products to support the European market. More information about Critical Metals Corp. can be found at https://www.criticalmetalscorp.com.
For CiTech, the capital injection arrives as the company has completed the research and development phase and is currently commercializing the first of many products that will be released. The platform is designed to support radio equipment including LTE (Long Term Evolution) and several other technological payloads, such as surveillance and anti-drone systems. The company's technology addresses growing global demand for rapidly deployable communications infrastructure in remote and challenging environments, particularly in sectors like mining where operations often occur in areas with limited existing infrastructure. Additional information about CiTech's technology and operations is available at https://www.citech.com.au.
The financial strengthening positions CiTech to capitalize on increasing demand for autonomous communications solutions across multiple industries. As global focus intensifies on critical minerals extraction and remote operations management, technologies that enable reliable communications in challenging environments become increasingly valuable. The deployment to Greenland's Tanbreez Project demonstrates the practical application of CiTech's technology in supporting critical minerals development, which is essential for defense applications, the clean energy transition, and next-generation technologies in the western world.
