American Critical Minerals Raises $7.45 Million Through Offerings

American Critical Minerals Corp. announced the closure of its previously declared "bought deal" offering, issuing 15,574,450 units at $0.35 per unit, raising approximately $5.45 million. This includes the full exercise of the underwriter's option. Concurrently, the company completed a non-brokered private placement of 5,714,286 units, generating an additional $2 million. Collectively, the aggregate gross proceeds reached about $7.45 million.

The funds will support drilling initiatives at the Green River Project, targeting potash, lithium, and bromine. Positioned near active potash production sites in Utah's Paradox Basin, the project aims to convert exploration targets into resources.

Units consist of one common share and a half warrant, with each warrant permitting the purchase of a common share at $0.45 for 36 months post-closing. The offerings abide by Canadian securities laws and the National Instrument 45-106 exemptions, with immediate "free-trading" status under Canadian law.