Core Viewpoint - Deeprock Minerals Inc. and Allied Critical Metals Corp. have successfully closed a private placement, raising approximately 0.20 each, which will support the development of tungsten projects in Portugal as global demand increases and Chinese exports decline [2][3][4]. Summary of the Offering - The Offering is part of a reverse takeover transaction involving Deeprock, ACM, and Deeprock Holdings Ltd., aimed at facilitating the amalgamation [4]. - Each Subscription Receipt will convert into one ACM Unit, which consists of one common share and one-half of a warrant, upon meeting certain escrow release conditions [5][6]. Financial Details - The Offering generated approximately 260,460 paid to the involved financial agents [2][7]. - ACM granted broker warrants and advisory warrants as additional compensation to the agents, totaling 1,119,800 and 260,000 respectively [8][9]. Use of Proceeds - Proceeds from the Offering are intended for mineral property exploration, working capital, and general corporate purposes for the Resulting Issuer [13]. Company Background - Allied Critical Metals is focused on tungsten projects in Portugal, owning two significant projects: the Borralha Tungsten Project and the Vila Verde Tungsten Project [14]. - Deeprock Minerals is a Canadian mineral exploration company engaged in acquiring and developing mineral resource properties in Canada [15].
Allied Critical Metals Closes Private Placement in Connection with Reverse Takeover Transaction