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Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company") is pleased to announce that further to its press releases of July 28, 2024 and August 14, 2025, the Company has closed the second and final tranche (the "Final Tranche") of its non-brokered private placement offering (the "Offering") by issuing 2,016,800 units of the Company (the "Units" and, each, a "Unit") at a price of $0.30 per Unit raising gross proceeds $605,040. The Company raised aggregate gross proceeds of $5,104,135.80 pursuant to the Offering by issuing an aggregate of 17,013,786 Units.
Each Unit is comprised of one common share of the Company (a "Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one additional Share (each a "Warrant Share") at a price of $0.40 per Warrant Share and is exercisable for a period of 24 months from the date of issuance.
The Company intends to use the net proceeds of the Offering for ongoing exploration and development activities on the Borralha Tungsten Project and Vila Verde Tungsten Project and for additional working capital.
All Units and securities of the Company issued pursuant to the Offering are subject to a four month hold period from the date of issuance. The Offering did not result in the creation of a new insider or control person of the Company.
The Company paid finder's fees of $11,411.40 in cash and 9,338 Finders Warrants (as defined below) in connection with the Final Tranche of the Offering to eligible finders in accordance with policies of the Canadian Securities Exchange (the "CSE") and applicable securities laws, comprised of (i) a cash commission of up to 7% of the gross proceeds of the First Tranche, and (ii) a number of finders warrants ("Finders Warrants"), equal to 7% of the number of Units issued under the Offering with each Finders Warrant exercisable for one additional Unit of the Company for a period of 24 months at $0.30 per Unit from the date of issuance.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.
About Allied Critical Metals Inc.
Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China, Russia and North Korea represent approximately 86% of the total global supply and reserves. The tungsten market is estimated to be valued at approximately USD $5 to $6 billion and it is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.
Please visit our website at www.alliedcritical.com.
Also visit us at:
LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc
X: https://x.com/@alliedcritical/
Instagram: https://www.instagram.com/alliedcriticalmetals/
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "Roy Bonnell"
Roy Bonnell
Chief Executive Officer and Director
Contact Information
For further information or investor relations inquiries, please contact:
Dave Burwell, Vice President, Corporate Development
Tel: 403 410 7907 | Toll Free: 1-888-221-0915
Email: daveb@alliedcritical.com
The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking statements", including with respect to the use of proceeds. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company's management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company's Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company's profile at www.sedarplus.ca). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and use of proceeds for exploration and development of the Company's mineral projects as described in the Company's Listing Statement, news releases, and corporate presentations. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's Listing Statement dated April 23, 2025 and news release dated May 16, 2025, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.
Not for distribution to U.S. news wire services or dissemination in the United States
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263013
