Allied Critical Metals Corp. signed a letter of intent to acquire Deeprock Minerals Inc. (CNSX:DEEP) in a reverse merger transaction on June 14, 2024. Subsequent of the transaction Deeprock Minerals inc. signs letter agreement for spin-off. In addition, ACM and Deeprock entered into an agency engagement with Fund Box Sociedade de Capital de Risco, S.A., an international fund management and investment firm based in Lisbon, Portugal to arrange for initial longterm debt financing on a best efforts basis of up to ?11,000,000 (16.2217 CAD) for ACM and its wholly-owned Portuguese subsidiary, Pan Metals. ACM shall complete a concurrent private placement equity financing of units at a price of CAD 0.60 per Unit to raise gross proceeds of up to CAD 7,500,000, and each Unit will be comprised of one common share of ACM and one common share purchase warrant of ACM wherein each Warrant will be exercisable for a period of 24 months from the date of issuance at a price of CAD 1.00 per share Deeprock Minerals Inc change its name to Allied Critical Metals Corp.

The transaction is subject to approval by regulatory board / committee, approval of offer by target shareholders, consummation of due diligence investigation, definitive agreement, obtaining financing and third party approval needed.