Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) has closed the second tranche of its U.S.$25 million private placement, raising U.S.$15 million from Tribeca Investment Partners as a new strategic investor. The proceeds are earmarked for development of the company's Vila Verde pilot project and continued advancement of the Borralha Tungsten Project in northern Portugal. The announcement signals a significant capital milestone for a company focused on securing western tungsten supply at a time of growing geopolitical concern over the metal's availability.

Key Points

  • Allied Critical Metals Inc. (CSE: ACM) closed the second tranche of its U.S.$25 million private placement on September 28, 2026
  • Tribeca Investment Partners invested U.S.$15 million, acquiring 10,317,073 common shares at C$2.05 per share
  • Proceeds directed to the Vila Verde pilot project, Borralha Tungsten Project exploration, and working capital
  • Investors may watch for progress updates on the Vila Verde and Borralha properties in northern Portugal

Second Tranche Terms and Share Issuance Details

The second tranche comprised 10,317,073 common shares issued at C$2.05 per share, generating gross proceeds of U.S.$15 million. The shares carry a hold period of four months and one day under applicable securities laws and CSE policies. In connection with the closing, the company paid Clarus Securities Inc. a finder's fee consisting of a cash commission equal to 5% of gross proceeds raised and broker warrants equal to 5% of shares issued, with each broker warrant exercisable at C$2.05 per share for 24 months from the date of issuance.

Tribeca's Strategic Rationale for the Borralha and Vila Verde Tungsten Assets

Tribeca Investment Partners, an Asia Pacific-based investment and advisory firm with nearly three decades of experience, cited the scarcity of world-class tungsten assets with near-term production potential as central to its investment thesis. Ben Cleary, Portfolio Manager for the Tribeca Global Natural Resources Fund, stated in the release that both the Borralha and Vila Verde properties are "highly strategic assets" with potential to contribute to the defence industry amid a significant global shortage of tungsten concentrates. Tribeca also indicated it would open its network across the mining and funding community to Allied.

Tungsten's Critical Material Status and Use of Proceeds

Allied Critical Metals describes the Borralha Project as one of the largest undeveloped tungsten resources globally, benefiting from a favourable Environmental Impact Declaration. The company's release notes that China, Russia, and North Korea account for approximately 87% of global tungsten supply and reserves, underscoring the strategic relevance of Portugal-based western sources. The United States and European Union have both designated tungsten a critical raw material. Net proceeds will fund the Vila Verde pilot project, ongoing exploration and development at Borralha, and general working capital.