Critical One Energy (CSE: CRTL) said Thursday it has signed a binding memorandum of understanding (MOU) with Solar International Core Canada (SICC), a strategic investment firm with institutional financing partnerships that include the Sultanate of Oman Sovereign Wealth Fund. The MOU positions Critical One as a co-development partner in building a Canadian critical minerals supply chain and brings C$25 million ($18 million) of strategic capital, a construction financing facility of up to C$400 million ($286 million) and a future antimony offtake agreement to the company’s flagship Howells Lake antimony-gold project in Ontario. Located in the homelands of the Eabametoong First Nation (EFN), Thunder Bay Mining Division, Howells Lake is approximately 120 kilometres west of the Ring of Fire access corridor in the Canadian province’s northwest. The team relocated historic trenches, sampled surface stibnite (antimony) mineralization, and identified historic drill hole collars in preparation for an upcoming airborne geophysical survey. Their work aims to assess the size and grade of historic antimony-gold zones and uncover new exploration targets across the 26-kilometre property—Canada’s largest undeveloped antimony deposit. The MOU The MOU brings together SICC as the principal capital and offtake partner and Northlink Development Group as the developer and project manager of the planned Ontario antimony processing facility. Through the partnership, Critical One said it participates as both a future antimony feedstock supplier from Howells Lake and a carried equity partner in the facility. The equity position: C$15 million from SICC at C$1.20 per share for 12.5 million common shares without warrant exposure, representing a 48% premium to the closing price on Wednesday, October 28, 2026 (C$0.81), for a 12% interest on a fully diluted basis. SICC has agreed to a 12-month voluntary lock-up. Under the terms, SICC may nominate one director to Critical One’s Board of Directors. The MOU also establishes a strategic commercial alliance where in Howells Lake antimony feedstock is integrated with the Ontario processing facility being developed by Northlink, with SICC funding a C$10 million commitment representing Critical One’s carried equity interest in the processing facility. Exclusive offtake rights established to purchase up to 150 million pounds of future antimony production from Howells Lake, at international benchmark prices. “Being positioned as a strategic co-development partner, with returns from processing as well as mining, elevates Critical One’s growth strategy,” Critical One CEO Duane Parnham said in a news release. “We are advancing our geological results into a development plan that returns benefits directly to our shareholders and the Eabametoong First Nation community.” Chief Solomon Atlookan described the partnership between Critical One and Eabametoong First Nation. “Our community members hunt, fish, and harvest throughout this beautiful area. It is our home, and we have begun a relationship with Duane and Critical One on respectful terms and will continue to be guided by our land users and stewards of the land,” Chief Atlookan said. “This partnership is not merely about revenue sharing or environmental protections. We are seeking to plan for the future of our people and sustainable growth of our community through strategic opportunities, and we are pleased to see respectful companies come alongside our First Nation.” By market close in Toronto on Thursday, Critical One’s stock was up 3.7%. The company has a C$54.3 million ($39 million) market capitalization.
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