American Critical Minerals Raises $2.535M in Private Placement for Utah Drilling

American Critical Minerals Corp. (CSE: KCLI, OTCQB: APCOF, Frankfurt: 2P3) has completed a $2.535 million non-brokered private placement, raising 12.675 million units at $0.20 each. Each unit includes one common share and one warrant exercisable at $0.35 until September 9, 2029. The gross proceeds, after broker fees of $161,000, support drilling at its Green River Project in Utah and working capital for the fourth quarter of 2026. The AP-S-2 Duma Point well, expected to be completed later this month, is part of a seven-hole drilling authorization covering 32,530 acres in the Paradox Basin, 20 miles northwest of Moab. The project includes mineral leases, federal lithium brine claims, and potash prospecting permits. Certain directors and a senior officer purchased 300,000 units in a related-party transaction, exempt from formal valuation and minority shareholder approval due to the transaction’s value not exceeding 25% of the company’s market capitalization. Director Simon Clarke resigned from the board but remains an advisor. The U.S. imports over 90% of its potash, and the Department of Interior designated potash as a critical mineral in November 2025.