Wednesday, 30 September 2026 08:00 AM
Company Update
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
VANCOUVER, BC / ACCESS Newswire / September 30, 2026 / Ameriwest Critical Metals Inc. (CSE:AWCM)(OTCQB:AWLIF)(FSE:5HV) ("Ameriwest" or the "Company") is pleased to announce its intention to complete a non-brokered private placement (the "Private Placement") for gross proceeds of up to $500,000 consisting of approximately 1,923,077 common shares of the Company (each a "Share") at a price of $0.26 per Share. No warrants or finders' fees are associated with the Private Placement.
The Private Placement is subject certain conditions including, but not limited to, approval of the Canadian Securities Exchange. All of the Shares to be issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus one day pursuant to applicable securities laws.
Additionally, the Company is pleased to announce that it has entered into a property purchase agreement (the "Agreement") with an arm's-length individual (the "Purchaser") pursuant to which the Company has agreed to sell its 100% interest in the Xeno Rare Earth Property in British Columbia ("Xeno") for cash consideration of $100,000 (the "Xeno Transaction"). Xeno consists of two mineral claim units totaling approximately 784.31 hectares and is located approximately 140 kilometres east of Dease Lake. The Xeno Transaction is subject to regulatory approval and no finder's fee is payable in connection with the sale.
The Company intends to use the proceeds of the Private Placement and the Xeno Transaction to advance exploration and permitting activities at its Bornite Project in Oregon ("Bornite") and for general working capital and corporate purposes. Bornite is a high-grade underground copper, gold, and silver deposit.
David Watkinson, Chief Executive Officer of Ameriwest, commented:
"The Xeno Transaction and the Private Placement strengthen Ameriwest's treasury as we continue advancing the Company's core asset, the Bornite Project. We remain focused on deploying capital in a disciplined manner and directing our resources toward the opportunities that we believe can have the greatest impact for the Company."
The closing of both the Xeno Transaction and the Private Placement is expected to occur in the coming days.
About Ameriwest Critical Metals Inc.
Ameriwest is an exploration company focused on identifying and acquiring strategic critical mineral projects for exploration and resource development. The Company is currently advancing its Bornite copper-gold-silver property in Oregon and its Thompson Valley lithium clay property in Arizona. Ameriwest also owns a lithium clay property in Clayton Valley, Nevada, and has entered a non-binding letter of intent with Pure Energy Minerals Limited for the proposed sale of its Railroad Valley lithium brine property in Nevada.
For more information on the Company, investors should review the Company's filings available at www.sedarplus.ca.
On Behalf of the Board of Directors
David Watkinson
Chief Executive Officer and Director
For further information, please contact:
Ameriwest Critical Metals Inc.
Tel: (416) 918-6785
Email: [email protected]
The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release may constitute forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the anticipated completion of the Private Placement, the amount of proceeds to be raised under the Private Placement, the intended use of proceeds, completion of the Xeno Transaction, satisfaction of the conditions to closing, the Company's exploration plans and priorities, and the advancement of the Bornite Project.
Forward-looking information is based on management's current expectations and assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that the Private Placement will be completed for the amount contemplated or at all, that the Xeno Transaction will be completed on the terms contemplated or at all, that applicable regulatory requirements will be satisfied, or that the Company's exploration and corporate objectives will be achieved.
The Company believes that the expectations and assumptions reflected in such forward-looking information are reasonable as of the date hereof; however, no assurance can be given that they will prove to be correct. Readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information except as required by applicable securities laws.
SOURCE: Ameriwest Critical Metals