Business
Allied Critical Metals Announces Transformative U.S.$40 Million Financing Package to Fast-Track Tungsten Concentrates Production
Highlights: Strategic investment of U.S.$40 million comprised of U.S.$25 million equity financing and U.S.$15 million in project financing for the Vila Verde
About this update from Allied Critical Metals Inc.
[{"type":"text","content":" Highlights: Strategic investment of U.S.$40 million comprised of U.S.$25 million equity financing and U.S.$15 million in project financing for the Vila Verde Pilot Plant. Allied Critical Metals is fully funded to achieve initial production at the Vila Verde Pilot Plant and meet its stated objectives over the next 12 months. Targeting the fourth quarter of 2026 for first tungsten concentrate production from the Vila Verde Pilot Plant. Off-Take Agreement for 50% of tungsten concentrate production from the Vila Verde Pilot Plant secured with a 2026 floor price of U.S.$1,000/mtu. Off-Take Agreement provides flexibility for governmental agencies, including the United States Department of War and the Portuguese Ministry of Defence, to purchase tungsten concentrates from the Company. Vancouver, British Columbia--(Newsfile Corp. - April 24, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) (\"Allied\" or the \"Company\") is pleased to announce a non-brokered private placement offering of common shares at a price of $2.05 per share (the \"Offering\") with an existing strategic investor (the \"Existing Strategic Investor\") and a new strategic investor (the \"New Strategic Investor\", collectively the \"Strategic Investors\") for gross proceeds of U.S.$25 million. In addition to the Offering, the Existing Strategic Investor has also agreed to provide the Company with U.S.$15 million in project financing to build the Company's Villa Verde pilot project (the \"Pilot Plant\") and has entered into an off-take agreement (the \"Off-Take Agreement\") with the Company for 50% of the tungsten concentrates produced at the Pilot Plant. The Off-Take Agreement is subject to a floor price of U.S.$1,000/mtu for the calendar year 2026, subject to customary price revisions. \"We are pleased to announce that we have entered into a transformative financing package that will not only fast-track our production of tungsten concentrates but also solidify our balance sheet. The Pilot Plant at Vila Verde is on track this year to bring online tungsten concentrates to a global market that is starved for the metal,\" commented Roy Bonnell, Chief Executive Officer of the Company. \"Securing two strategic investors validates our strategy of fast-tracking tungsten concentrate production and enables us to be fully funded until the mine construct...