• Successful $14M placement to fund Webbs Consol Project acquisition and exploration
• Cornerstone support from institutional investors including Eric Sprott, Jupiter Asset Management and Tribeca Investment Partners
• Proceeds also to settle Facility Notes and fund exploration on NSW silver and Canadian Germanium-Gallium projects

Rapid Critical Metals Limited (ASX: RCM) has announced the successful completion of a $14 million placement to institutional, sophisticated and professional investors. The placement comprises two tranches, with the first tranche raising $5.6 million and the second tranche of $8.4 million subject to shareholder approval. The placement was strongly supported by cornerstone investors including renowned global investor Eric Sprott, Jupiter Asset Management and Tribeca Investment Partners, as well as existing institutional shareholders. Proceeds from the placement will be used primarily to fund the acquisition of the Webbs Consol Project from Lode Resources Limited, settle outstanding Facility Notes, and advance exploration activities on the company's NSW silver and Canadian Germanium-Gallium projects. The placement was conducted at $0.035 per share, representing a premium to the company's recent trading prices. The successful capital raising and support from high-quality institutional investors validates Rapid's exploration strategy and positions the company to become Australia's next high-grade silver producer.

The company is now well capitalised to complete the acquisition of the Webbs Consol Project and continue to develop and implement a thorough exploration program on its NSW and Canadian projects.