Allied Critical Metals Closes Upsized $16.25 Million LIFE Offering

Core Viewpoint - Allied Critical Metals Inc. has successfully closed a non-brokered private placement offering, raising gross proceeds of approximately $16.25 million through the issuance of 27,083,266 common shares at a price of $0.60 per share [1][2]. Group 1: Offering Details - The offering resulted in gross proceeds of $16,249,960 from the issuance of 27,083,266 common shares at $0.60 each [1]. - The net proceeds will be allocated for ongoing exploration and development activities on the Borralha Tungsten Project and Vila Verde Tungsten Project, as well as for additional working capital [2]. - The shares issued are exempt from a hold period under Canadian securities laws, allowing for immediate trading [3]. Group 2: Financial Arrangements - The company paid finder's fees totaling $1,042,997 in cash and issued 1,738,328 finders warrants, each exercisable for one additional share at $0.60 for 24 months [4]. - The financing is expected to fully fund the completion of a mineral resource estimate (MRE) and a preliminary economic assessment (PEA) for the Borralha project, as well as technical preparation work for the Vila Verde project [5]. Group 3: Company Overview - Allied Critical Metals Inc. is focused on the expansion and revitalization of its 100% owned Borralha and Vila Verde Tungsten Projects in northern Portugal, with tungsten being designated a critical metal by the U.S. and other western countries [8]. - The global tungsten market is valued at approximately $5 to $6 billion, with significant applications across various industries including defense, automotive, manufacturing, electronics, and energy [9].