Allegiance Resources plans private placement of up to $900,000 in units
Canadian tungsten explorer Allegiance Resources announces a non-brokered placement of units worth up to C$900,000 for exploration and working capital.
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what happened
Allegiance Resources Corp., formerly Pegmatite One Lithium and Gold Corp., announced through Newsfile Corp. a non-brokered private placement. The minimum is 3,571,429 units at C$0.14 each, and the maximum is 6,428,571 units, bringing gross proceeds between about C$500,000 and C$900,000.
Each unit contains one share and one warrant exercisable at C$0.35 for 24 months, starting 61 days after closing. The units are offered to purchasers in Canadian provinces other than Quebec under the listed issuer financing exemption. Proceeds will go to exploration on the company's properties and general working capital.
why it matters
The news concerns a company focused on tungsten and other critical metals, so its market impact is local. For metals markets, the more relevant factor is demand for tungsten rather than the size of this placement.
tags
sources
- Allegiance Resources Announces Non-Brokered LIFE Private Placement of up to $900,000 — newsfilecorp.com, 21 October 2026 at 04:12 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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