Allegiance Resources Corp. (CSE: ALLG) (FSE: BG5) announced a non-brokered private placement offering of between 3,571,429 and 6,428,571 units at C$0.14 per unit, seeking minimum gross proceeds of C$500,000 and maximum gross proceeds of approximately C$900,000.

Each unit consists of one common share and one warrant. Each warrant allows the holder to purchase one additional share at C$0.35, exercisable beginning 61 days after the applicable closing date and expiring 24 months after that date.

The offering is conducted under the listed issuer financing exemption available to residents in Canadian provinces, excluding Quebec. Securities issued under this exemption will not be subject to a hold period under Canadian securities laws.

The company states it intends to use net proceeds for mineral property exploration and general working capital. The offering may close in one or more tranches, with a final closing deadline of November 6, 2026. The company must raise the minimum offering amount before the first closing and must reasonably believe it has sufficient funds to meet its requirements for at least 12 months following closing. Closing is subject to Canadian Securities Exchange approval.

Certain insiders of the company may participate in the offering, which would constitute a related party transaction under Multilateral Instrument 61-101. The company expects to rely on exemptions from formal valuation and minority shareholder approval requirements, noting that the fair market value of securities issued to related parties will not exceed 25% of the company's market capitalization.

Allegiance Resources focuses on the acquisition, exploration, and development of tungsten and other critical metals in Canada and the United States. The company holds a 100% interest in the Golden Scheelite Tungsten Project in Nevada and has entered into an agreement to acquire three tungsten projects in British Columbia, subject to closing conditions.