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DEAP Capital Management & Trust Plc shareholders have unanimously approved the transformation into Critical Minerals Financing Corporation (CMFC) Plc, a new entity focused on minerals financing in Africa. The approval includes a name change, strategic restructuring, and global capital raising initiatives.

CMFC will retain its listing on the Nigerian Exchange and aims to provide financial solutions throughout the minerals value chain, starting in Nigeria. The company appointed Lamon Rutten as CEO and secured investments from global stakeholders. CMFC plans to enhance Africa’s position in global minerals by optimizing local resources and engaging in exploration, refining, and trading activities.