American Tungsten Upsizes Non-Brokered LIFE Private Placement to $20 Million

Executive Summary

• American Tungsten Corp. upsized its non‑brokered LIFE private placement, now authorized to raise up to $22.6 million in gross proceeds.
• The offering will consist of up to 6,468,572 common shares at $3.50 per share, with finder’s fees of up to 6 % of gross proceeds permitted.
• Net proceeds are earmarked for accelerating the IMA Mine exploration program, fast‑tracking technical studies, and providing additional working capital.

Key Details

• Offering Size: Up to $22.6 M gross proceeds (increase from prior announced amount).
• Shares Offered: Maximum of 6,468,572 common shares.
• Price per Share: $3.50 CAD.
• Financing Structure: Non‑brokered private placement under the Listed Issuer Financing Exemption (LIFE) pursuant to NI 45‑106 Part 5A and Coordinated Blanket Order 45‑935. Shares are not subject to a statutory hold period.
• Finder’s Fees: Cash fees may be paid to eligible finders up to 6 % of the gross proceeds raised from subscribers they introduce.
• Use of Proceeds:
• Accelerate upcoming exploration program at the IMA Mine (Idaho).
• Fast‑track technical studies related to project development.
• Provide additional working capital for corporate operations.
• Regulatory Condition: Offering subject to approval by the Canadian Securities Exchange (CSE).
• Availability of Documentation: Offering memorandum posted on SEDARplus and company website.

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

All forward‑looking statements are subject to risks and uncertainties detailed in the full release.