American Tungsten increases private placement to $22.6M

Executive Summary

• American Tungsten Corp. upsized its non‑brokered LIFE private placement to a maximum of $22.6 million gross proceeds.
• Up to 6,468,572 common shares will be sold at $3.50 per share under the listed issuer financing exemption (LIFE).
• Net proceeds are earmarked for accelerating the IMA mine exploration program, technical studies and additional working capital.

Key Details

• Upsized Offering Size: Gross proceeds up to $22.6 million (previously $20 million).
• Shares Offered: Up to 6,468,572 common shares.
• Price per Share: $3.50 CAD.
• Financing Exemption: Issued pursuant to the listed issuer financing exemption under Part 5A of NI 45‑106 and Coordinated Blanket Order 45‑935; no statutory hold period.
• Finder’s Fees: Company may pay cash finders’ fees up to 6.0 % of gross proceeds to eligible finders introducing subscribers.
• Use of Proceeds:
• Accelerate the upcoming exploration program at the IMA mine (Idaho).
• Fast‑track technical studies.
• Provide additional working capital for corporate operations.
• Regulatory Approval: Offering subject to approval by the Canadian Securities Exchange.
• Document Availability: Offering memorandum filed on SEDAR+ and posted on company website; investors urged to review prior to investment.

Notable Quotes

“This upsized financing underscores the robust institutional appetite for exposure to critical metals and validates American Tungsten's strategic role in strengthening the domestic supply chain,” – Ali Haji, CEO.
“The proceeds will accelerate our development timeline and support our transition toward production, reinforcing our vision to become the leading U.S. supplier of tungsten.” – Ali Haji, CEO.