Critical Infrastructure Technologies Ltd. has significantly strengthened its financial position following the successful exercise of company warrants and a deposit received from Critical Metals Corp. for the sale of a Nexus 20 platform. The company received $973,685 from the exercise of 3,245,619 warrants at $0.30 each, along with a $395,600 deposit representing 30% of the sale price for a Nexus 20 platform destined for Critical Metals Corp's Tanbreez Project in Greenland.
Chief Executive Officer Brenton Scott stated the capital injection positions the company 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, Scott said. 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 Nexus platform sale to Critical Metals Corp. represents a strategic deployment to one of the world's largest rare earth deposits. Critical Metals Corp. focuses on critical metals and minerals essential to electrification and next-generation technologies, with its flagship Tanbreez project located in Southern Greenland featuring year-round shipping access via deep water fjords. The company's Wolfsberg Lithium Project in Austria is Europe's first fully permitted lithium mine and is strategically positioned to support the European market. More information about Critical Metals Corp. is available at https://www.criticalmetalscorp.com.
CiTech develops autonomous, high-capacity mobile communications and security platforms targeting mining, defense, border security, and emergency services sectors. The company's self-deploying platform addresses limitations of current rapidly deployable communication solutions through patented technologies that provide tower strength and rapid deployment capabilities. The platform supports radio equipment including LTE and various technological payloads such as surveillance and anti-drone systems. After completing the research and development phase, CiTech is now commercializing its first products. Additional company information can be found at https://www.citech.com.au.
The financial strengthening comes as CiTech advances its manufacturing capabilities and expands its international presence in specialized sectors requiring autonomous communications infrastructure. The company's technology addresses critical needs in remote and challenging environments where traditional communications infrastructure is impractical or unavailable. This capital infusion enables CiTech to meet growing demand while positioning itself as a key provider of autonomous communications solutions for strategic industries worldwide.
