Apex Critical Metals raises $15 million for REE exploration
Apex Critical Metals Corp. [APXC-CSE, APXCF-OTCQX, KL9-FWB] said Tuesday it has raised $15 million from a previously announced private placement offering and will use the proceeds to fund exploration at projects in Canada and the U.S. They include the Rift Rare Earth project in Nebraska, CAP project in British Columbia and Lac Le Moyne project in Quebec.
Under the terms of the offering, the company issued 7.9 million units priced at $1.90 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $2.60 per warrant share for 24 months from the date of closing. Certain insiders of the company participated in the offering. As a result, it constitutes a related-party transaction.
On Tuesday, Apex Critical shares eased 2.35% or $0.04 to $1.66. The shares trade in a 52-week range of $4.95 and 70 cents.
Apex is a Canadian exploration company with a focus on advancing rare earth element (REE) and niobium projects that support the growing demand for critical and strategic metals across the United States and Canada. They include the Rift REE Project in southeastern Nebraska, which is located in the Elk Creek Carbonatite Complex, and hosts extensive rare earth rights surrounding one of North America’s most advanced niobium-REE deposits. Historical drilling across the complex has reported broad intervals of high grade REE mineralization, including intercepts such as 155.5 metres of 2.70% REO and 68.2 metres of 3.32% REO.
The company has said Phase 1.0 step out drill holes at Rift have expanded the footprint of the high-grade mineralization over approximately 275.0 metres from historical drill holes with 23.7 metres of 4.02% REO and broad intervals of over 2.00% REO.
Additionally, Phase 1.0 drilling has delineated a new zone of strongly elevated NdPr beneath the high-grade material that extends for approximately 390 metres with 13.5 metres of 1.08% REO at 31.7% NdPr and 10.9 metres of 0.99% REO, and 30.1% of NdPr within a broader zone of 22.7 metres of 0.79% REO at 32.8% NdPr. NdPr oxide is a high-purity rare earth compound that is used to manufacture magnets used in electric vehicles.
In Canada, Apex continues to advance its 100%-owned Cap Project, located 85 kilometres northeast of Prince George, B.C. A 2025 drill program confirmed a significant niobium discovery with 0.59% Nb205 over 36 metres, including 1.08% Nb205 over 10 metres, within an 1.8-kilometre-long niobium trend.
The Lac Le Moyne Carbonatite Project is located in northeastern Quebec near the community of Kuujjuaq and consists of 86 map staked claims covering 4,025 hectares. Multiple carbonatite outcrops were previously identified by government geologists conducting regional mapping programs throughout the Labrador Trough. Carbonatite is the primary host to rare earth element and niobium production globally.
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