Ameriwest Critical Metals Inc. (CSE:AWCM, OTCQB:AWLIF, FSE:5HV) has closed its previously announced non-brokered private placement and completed the related sale of its Xeno Rare Earth Property in British Columbia.
The company issued 1,923,076 common shares at $0.26 per Share, generating aggregate gross proceeds of $499,999.76. The placement was completed with an arm's-length strategic mining investor.
No warrants were issued and no finder's fees were paid in connection with the financing. All Shares issued under the Private Placement are subject to a statutory resale restriction of four months plus one day from the date of issuance in accordance with applicable securities laws.
The equity financing formed part of the purchase agreement for Ameriwest's 100% interest in the Xeno Rare Earth Property. Under that agreement, an arm's-length individual paid $100,000 in cash for Xeno and agreed to complete an equity investment of approximately $500,000 in Ameriwest at $0.26 per Share.
Xeno comprises two mineral claims totaling approximately 784 hectares in the Laird Mining Division of British Columbia. Ameriwest said the property transaction was completed concurrently with the closing of the private placement and that it received the $100,000 cash payment required under the definitive purchase agreement.
Ameriwest said it intends to use the net proceeds from the Private Placement for exploration and permitting activities at its Bornite Project, as well as general working capital and corporate purposes.
Chief Executive Officer David Watkinson said the investment was part of the broader Xeno transaction structure and that the company would continue directing capital and management resources toward its core exploration priorities, including the Bornite copper-gold-silver project in Oregon.
Ameriwest describes itself as an exploration company focused on strategic critical mineral projects in North America. In addition to Bornite in Oregon, the company is advancing the Thompson Valley lithium clay property in Arizona and owns a lithium clay property in Clayton Valley, Nevada.
The company has also entered a non-binding letter of intent with Pure Energy Minerals Limited concerning the proposed sale of its Railroad Valley lithium brine property in Nevada.
Ameriwest said statements concerning the intended use of proceeds, exploration plans and priorities, and advancement of the Bornite Project constitute forward-looking information under applicable Canadian securities laws. The company cautioned that these statements are subject to known and unknown risks and uncertainties, including whether applicable regulatory requirements will be satisfied and whether its exploration and corporate objectives will be achieved.
Ameriwest Critical Metals Inc. announced that it had closed its previously announced non-brokered private placement and completed the Xeno Transaction. The placement issued 1,923,076 common shares at $0.26 per Share for aggregate gross proceeds of $499,999.76, while the Xeno Transaction provided a $100,000 cash payment.
Ameriwest Critical Metals Inc. issued 1,923,076 common shares at a price of $0.26 per Share. The placement generated aggregate gross proceeds of $499,999.76.
The private placement was completed with an arm's-length strategic mining investor. No warrants were issued and no finder's fees were paid in connection with the placement.
The private placement was contemplated in the mineral property purchase agreement for the Xeno Transaction. Under that agreement, the arm's-length individual buying Xeno agreed to complete an equity investment of approximately $500,000 in Ameriwest Critical Metals Inc. at $0.26 per Share.
Ameriwest Critical Metals Inc. received a $100,000 cash payment for its 100% interest in the Xeno Rare Earth Property. Xeno consists of two mineral claims totalling approximately 784 hectares in the Laird Mining Division of British Columbia.
Ameriwest Critical Metals Inc. completed the Xeno Transaction concurrently with the closing of the private placement announced on October 7, 2026. The company said it received the $100,000 cash payment contemplated under the definitive purchase agreement.
Ameriwest Critical Metals Inc. intends to use the net proceeds to advance exploration and permitting activities at its Bornite Project, as well as for general working capital and corporate purposes. The company also identifies its exploration plans and priorities as forward-looking information subject to risks and uncertainties.
All shares issued under the private placement are subject to a statutory resale restriction of four months plus one day from the date of issuance. The restriction applies in accordance with applicable securities laws.
Chief Executive Officer David Watkinson said the investment was an important component of the broader Xeno transaction structure and strengthened Ameriwest Critical Metals Inc.'s treasury. He said the company would continue focusing capital and management resources on its core exploration priorities, including the Bornite copper-gold-silver project in Oregon.
Ameriwest Critical Metals Inc. is focused on identifying and advancing strategic critical mineral projects in North America. It is advancing the Bornite copper-gold-silver project in Oregon and the Thompson Valley lithium clay property in Arizona, and also owns a lithium clay property in Clayton Valley, Nevada; it has entered a non-binding letter of intent concerning the proposed sale of its Railroad Valley lithium brine property in Nevada.
Ameriwest Critical Metals Inc. identifies its listings as the Canadian Securities Exchange under CSE:AWCM, the OTCQB under OTCQB:AWLIF and the Frankfurt Stock Exchange under FSE:5HV.