Business
Allied Critical Metals Announces Closing of First Tranche of Strategic Financing
Vancouver, British Columbia--(Newsfile Corp. - May 4, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company") is
About this update from Allied Critical Metals Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - May 4, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) (\"Allied\" or the \"Company\") is pleased to announce that it has closed the first tranche (the \"First Tranche\") of its previously announced non-brokered private placement offering of common shares (the \"Offering\") with an existing strategic investor (the \"Existing Strategic Investor\") for gross proceeds of U.S.$10 million. In addition, Allied confirms that the previously announced project financing facility (the \"Facility\") in the aggregate principal amount of U.S.$15 million, provided by the Existing Strategic Investor to finance the construction and expenses of the Pilot Plant, is in place and available to be drawn at any time by the Company in accordance with its terms. The Company intends to use the net proceeds of the Offering for the development of the its Vila Verde pilot project (the \"Pilot Plant\"), ongoing exploration and development activities on the Borralha Tungsten Project and for additional working capital. \"We are very pleased to close the First Tranche and have access to the Facility. Allied is moving aggressively now to complete the construction of the first phase of the Pilot Plant, which we expect to be completed during the fourth quarter of 2026. With the closing of the Offering and the Facility, Allied is very pleased to be fully-funded into the end of 2027,\" commented Roy Bonnell, Chief Executive Officer of Allied. \"To be able to start tungsten concentrate production in 2026 with a meaningful floor price of U.S.$1,000/mtu sets us apart from many of our peers. Portugal has a long history of being a strategic source of tungsten concentrates and we are eager to build upon that storied tradition.\" The First Tranche was comprised of common shares of the Company (the \"Shares\" and each, a \"Share\") issued at a price equal to the 10-day volume weighted average trading price of the Shares on the Canadian Securities Exchange (the \"CSE\") at the date of signing of the subscription agreement, being $2.05 per Share (the \"Offering Price\"). The Shares were issued in accordance with the policies of the CSE. The Shares are subject to a hold period of four months and one day, as required by applicable securities laws and the policies of the CSE. In connection with the closing ...