American Tungsten arranges $10M private placement

Executive Summary

• American Tungsten Corp. announced a non‑brokered listed issuer financing exemption (LIFE) private placement to raise up to $10 million by issuing up to 2,857,142.86 common shares at $3.50 per share.
• Proceeds will be used to expand the exploration program at the Ima mine, accelerate technical studies and provide additional working capital, supporting the company’s goal of becoming a leading U.S. tungsten supplier.
• The offering is subject to approval by the Canadian Securities Exchange and will be conducted under NI 45‑106 exemption provisions with no hold period for purchasers.

Key Details

• Offering Size: Up to $10 million gross proceeds.
• Shares Offered: Up to 2,857,142.86 common shares of American Tungsten Corp.
• Price per Share: $3.50 CAD (non‑brokered).
• Financing Structure: Private placement conducted under the listed issuer financing exemption (Part 5A of NI 45‑106) and Coordinated Blanket Order 45‑935; no hold period required.
• Use of Proceeds:
• Expand exploration program at the Ima mine (Idaho).
• Fast‑track technical studies.
• Provide additional working capital for corporate operations.
• Regulatory Conditions: Offering subject to approval by the Canadian Securities Exchange; securities will be listed on the exchange upon issuance.
• Offering Documentation: Prospectus‑exempt offering document filed on SEDAR+ and available on the company’s website; investors urged to review before investing.
• CEO Comment: “This financing reflects the strong institutional demand for exposure to critical metals… The proceeds will allow us to accelerate development and advance toward production.” – Ali Haji, CEO.

Notable Quotes

“The proceeds will allow us to accelerate development and advance toward production, reinforcing our commitment to becoming the leading U.S. supplier of tungsten.” – Ali Haji, Chief Executive Officer, American Tungsten Corp.