American Critical Minerals Completes $2.535 Million Private Placement

American Critical Minerals Corp has successfully completed a non-brokered private placement, raising $2.535 million through the issuance of 12,675,000 units. Each unit comprises one common share and one common share purchase warrant exercisable at $0.35 until September 9, 2029. The funds will support drilling operations at the company’s Green River Project and bolster working capital.

The private placement has been upsized, and all securities issued are subject to a statutory hold period of four months and one day, expiring on January 10, 2027. The company paid $161,000 and issued 799,750 warrants to certain arms-length brokerage firms that assisted in introducing subscribers to the Offering. Participation by certain directors and a senior officer, collectively purchasing 300,000 units, was deemed a related party transaction but did not exceed the required thresholds.

Dean Pekeski, President and CEO, expressed satisfaction with the level of support received, stating, "This funding will allow us to complete the AP-S-2 Duma Point well and provide working capital as we move into the last quarter of 2026. Drilling has been progressing well and should be completed later in September."

The Green River Project, located in Utah's Paradox Basin, holds significant potential for potash and lithium production. The project benefits from its proximity to major rail hubs, airports, roads, water, towns, and labour markets. Historical data from previous operators indicates lithium concentrations up to 500 ppm, bromine up to 6,100 ppm, and boron up to 1,260 ppm. Anson Resources Ltd, a nearby company with advanced lithium development projects, supports the potential for substantial mineral reserves.

American Critical Minerals holds a 100% interest in eleven SITLA mineral and minerals salt leases covering approximately 7,050 acres, 1,094 federal lithium brine claims, and 11 federal potash prospecting permits covering 25,480 acres. These leases enable exploration for potash, lithium, and potential by-products across the entire Green River Project, which spans approximately 32,530 acres.

The company has disclosed targets for further exploration, aiming to find 500 million to 950 million tonnes of sylvinite, grading from 12% to 18% potassium oxide, and targeting 2.1 billion cubic meters of brine volume grading 71.6 to 216.3 ppm lithium and 3,656 to 4,741 ppm bromine. These targets are based on known and additional limited geological evidence.

The United States imports more than 90% of its potash demand, and the global potash market is estimated to be over $50 billion annually, growing at a compound annual growth rate of close to 5%. The U.S. Department of Interior has added potash to its list of critical minerals, and the lithium market is estimated to exceed 1 million tonnes annually, with rapid growth.

Simon Clarke, the company’s Chairman, has tendered his resignation to pursue other opportunities, thanking the board and management for their support. He stated, "I am delighted to see the progress the company is making under Dean Pekeski's leadership. His experience and connections in the potash and brine sectors are crucial, and this is an ideal time for me to step back from the board and focus on other opportunities, while remaining available as needed in an advisory capacity."

Dean Besserer, the Chief Operations Officer and a qualified person for the purposes of NI 43-101, confirmed the targets and data for the Green River Project, noting that although historical data is selective, it serves as a guide for exploration. The company remains optimistic about the potential for significant mineral reserves and continued growth in the industry.