Critical One Energy Signs MOU With Solar International for C$425 Million and Antimony Offtake

Critical One Energy Inc. signed a binding memorandum of understanding with Solar International Core Canada covering C$25 million in strategic equity and a construction financing facility of up to C$400 million for its Howells Lake Antimony-Gold Project in northwestern Ontario. Stock Titan published the announcement on October 29, 2026.

How the Solar International MOU Is Structured

The equity portion is C$15 million from SICC at C$1.20 per share for 12.5 million common shares without warrant exposure, a 48% premium to the October 28, 2026 closing price of C$0.81, for a 12% interest on a fully diluted basis. SICC has agreed to a 12-month voluntary lock-up and may nominate one director to Critical One's board. SICC is to use commercially reasonable efforts to deliver an indicative term sheet for the construction debt facility within 90 days of signing.

Yahoo also covers the agreement, describing the C$25 million equity and up to C$400 million financing alongside an exclusive offtake for up to 150 million pounds of antimony and a carried equity stake in an Ontario processing facility. Under the MOU, SICC funds a C$10 million commitment representing Critical One's carried equity interest in the facility being developed by Northlink Development Group Inc. The offtake covers up to 150 million pounds of future antimony production at international benchmark prices, and the company noted that future production is not guaranteed and Howells Lake does not have an NI 43-101 compliant resource.

"Being positioned as a strategic co-development partner, with returns from processing as well as mining, elevates Critical One's growth strategy," said Duane Parnham, Executive Chairman and CEO of Critical One. Marc Kealey, Vice-Chairman of Solar International Core Canada, said the collaboration integrates "upstream Canadian feedstock with domestic refining infrastructure." Completion of the equity investment is subject to 90-day due diligence and acceptance by the Canadian Securities Exchange.

Critical One's Drilling and Funding Record

According to akta.pro company records, Critical One confirmed near-pure stibnite at Howells Lake in May 2026, with Hole 6 returning 4.0 m grading 70.2% Sb within 8.0 m grading 42.2% Sb. The same records show Phase I drilling completed 18 holes totaling approximately 4,000 m as of June 2026, with a budget supporting 20,000 m of drilling through December 2026, across 24,887 ha and 697 claims. The records list nine funding rounds, including a 2026-07 post ipo equity round of $4.8 million.

Earlier Howells Lake Agreements

In May 2026, Critical One signed a strategic MOU with Green Infrastructure Partners Inc. for road planning, civil works, workforce training and contract mining services at Howells Lake, Newsfile reported. In August 2026, the company announced assay results confirming the extension of a high-grade antimony zone and a new gold discovery at Howells Lake, according to Newsfile. On August 14, 2026, Critical One completed a flow-through private placement raising aggregate gross proceeds of CDN$6,728,601, Yahoo reported.

Howells Lake's Next Steps

Critical One said it welcomes ongoing planning and consultation sessions with Eabametoong First Nation as technical work advances. Additional metallurgical test work will show how Howells Lake material can be processed, and drilling continues toward an initial mineral resource estimate for the project's East Zone.