Allied Critical Metals Announces Closing of Second Tranche of U.S.$25 Million Private Placement and Announces New Strategic Investor

The tranche adds shares and broker warrants; Allied intends to direct offering proceeds toward its projects and working capital.

Rhea-AI Summary

Allied Critical Metals (ACMIF) closed a second private-placement tranche with Tribeca Investment Partners, raising U.S.$15 million in gross proceeds. Allied issued 10,317,073 common shares at C$2.05 each in the tranche. The previously announced offering has an aggregate amount of U.S.$25 million; the announcement does not say the full offering has closed.

Allied intends to use the offering’s net proceeds to develop its Vila Verde pilot project, continue exploration and development at the Borralha Tungsten Project, and provide additional working capital. Both projects are in northern Portugal. Borralha has a favourable Environmental Impact Declaration.

In connection with the tranche, Allied paid Clarus Securities a cash commission equal to 5% of gross proceeds raised. It also issued broker warrants equal to 5% of the shares issued in the tranche. Each warrant allows its holder to buy one share at the offering price for 24 months from issuance.

Negative

• 10,317,073 shares issued at C$2.05 each in the second tranche.
• Broker warrants issued equal to 5% of second-tranche shares.

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Vancouver, British Columbia--(Newsfile Corp. - September 28, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company") is pleased to announce that it has closed the second tranche (the "Second Tranche") of its previously announced private placement offering of common shares (the "Offering") in the aggregate amount of U.S.$25 million with Tribeca Investment Partners (the "New Strategic Investor" or "Tribeca") for gross proceeds of U.S.$15 million.

"We are very pleased to welcome Tribeca as a strategic investor. Tribeca has extensive expertise in the metals and mining industry and has been a welcome partner to many mining companies looking to accelerate from exploration to production phase," commented Roy Bonnell, Chief Executive Officer of Allied. "The closing of the Second Tranche paves the way for us to continue to develop our flagship asset, the Borralha Property, as well as the near-term producing Vila Verde Property."

"We start from the position that there are very few world-class tungsten assets. There are even fewer that have the potential for any near-term tungsten concentrate production. We believe the Borralha Property and Vila Verde Property are highly strategic assets that have the potential to be significant contributors to the defense industry and other strategic industries at a time when there is a dramatic shortage of tungsten concentrates," commented Ben Cleary, Portfolio Manager for the Tribeca Global Natural Resources Fund and Partner and Director of Tribeca. "We are enthusiastic about supporting Allied as it brings these past-producing tungsten assets back into production. As a shareholder, Tribeca will open its network across the mining and funding community to Allied as it advances the Borralha and Vila Verde Properties."

The Second Tranche was comprised of 10,317,073 common shares of the Company (the "Shares" and each, a "Share") issued at a price of C$2.05 per Share (the "Offering Price"). The Shares were issued in accordance with the policies of the Canadian Securities Exchange (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.

The Company intends to use the net proceeds of the Offering for the development of the Company's Vila Verde pilot project, ongoing exploration and development activities on the Borralha Tungsten Project and for additional working capital.

In connection with the Second Tranche, the Company paid a finder's fee to Clarus Securities Inc. comprised of a cash commission equal to 5% of the gross proceeds raised and broker warrants equal to 5% of the number of Shares issued under the Second Tranche, with each broker warrant entitling the holder to purchase one Share at the Offering Price for a period of 24 months 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 Securities Act of 1933, as amended (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 and applicable state securities laws.

About Allied Critical Metals Inc.

Allied Critical Metals Inc. is a Canadian-based mining company focused on the advancement and revitalization of its 100%-owned Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal.

The Borralha Project is one of the largest undeveloped tungsten resources globally and benefits from a favourable Environmental Impact Declaration (DIA), positioning the Project for advancement toward feasibility and development. Vila Verde represents additional exploration upside within the same strategic jurisdiction.

Tungsten has been designated a critical raw material by the United States and the European Union due to its strategic importance in defense, aerospace, manufacturing, automotive, electronics and energy applications. Currently, China, Russia and North Korea account for approximately 87% of global tungsten supply and reserves, highlighting the importance of secure western sources.

Further details regarding the Borralha Project are available in the Company's current preliminary economic assessment technical report prepared in accordance with NI 43-101 entitled "NI 43-101 Technical Report Preliminary Economic Assessment, Borralha Tungsten Project, Parish of Salto, District of Vila Real, Portugal", dated effective April 14, 2026, which is published on the Company's website at www.alliedcritical.com and under its profile on SEDAR+ at www.sedarplus.ca.

About Tribeca Investment Partners

Tribeca is an Asia Pacific based investment and advisory firm which has been partnering with sophisticated clients across asset management, private wealth management and corporate advisory for nearly three decades. For more information about Tribeca, visit www.tribecaip.com.

ON BEHALF OF THE BOARD OF DIRECTORS

"Roy Bonnell"
CEO and Director

Additional information is also available by contacting the Company:

Dave Burwell
Vice President, Corporate Development
daveb@alliedcritical.com
Tel: 403-410-7907
Toll Free: 1-800-221-0915

Please also 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/
Facebook: https://www.facebook.com/alliedcriticalmetals/
Instagram: https://www.instagram.com/alliedcriticalmetals/

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release may contain "forward-looking information" ("FLI") within the meaning of applicable Canadian securities laws. FLI in this release includes, without limitation, statements regarding completion of the Offering; the proposed use of proceeds from the Offering; and any other activities, events or developments that the Company expects or anticipates will or may occur in the future. Such FLI is identified by, among other things, words such as "plans", "expects", "is expected", "aims", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "potential", "target", "opportunity", "may", "could", "would", "might", "will" and similar terminology, as well as statements regarding outcomes that "will", "should" or "would" occur. Such FLI should be considered carefully, and the reader should not place undue reliance thereon. In addition, reference should also be made to the risk factors listed in the Company's most recently filed management's discussion and analysis and Annual Information Form dated April 24, 2026, all as filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. Readers are urged to carefully review those risk factors, which are expressly incorporated by reference into this cautionary note. The Company does not undertake to update any forward-looking information except as required by applicable securities laws.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue reliance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update this forward-looking information in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316289

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did Allied Critical Metals raise from its second private-placement tranche?

Allied raised U.S.$15 million in gross proceeds from the second tranche with Tribeca Investment Partners. It issued 10,317,073 common shares at C$2.05 each.

When can shares from Allied Critical Metals’ second private-placement tranche be traded?

The shares are subject to a hold period of four months and one day. The hold period applies under securities laws and Canadian Securities Exchange policies.