Namibia Critical Metals Inc announces a non-brokered private placement of 8,333,333 units offered at a price of CAD 0.06 per unit for gross proceeds CAD 500,000 on November 20, 2023. Each unit will consist of one common share and one warrant. Each whole warrant will be exercisable for one common share at a price of CAD 0.10 for a period of 24 months.

A maximum of 16,666,667 common shares of Namibia Critical Metals will be issued pursuant to the Private Placement. The transaction included participation from returning investor, Bannerman Energy Ltd. Bannerman Energy Ltd. has confirmed their intent to participate in the Private Placement up to a minimum amount of CAD 209,000. The Private Placement is subject to the approval of the TSX Venture Exchange.

The common shares and warrants issued pursuant to the Private Placement will be subject to a four-month hold period.