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Financings

American Tungsten Announces Completion of $16.8 Million; First Tranche of LIFE Offering

By The Northwire Desk — AI Analysis Oct 22, 2025 · 07:01 TUNG · 2.605 American Tungsten Corp
TUNG · Price

Executive Summary

  • American Tungsten Corp. completed the first tranche of its LIFE Offering, raising gross proceeds of C$16.77 million from the sale of 6,500,198 common shares at C$2.58 per share.
  • The company paid C$741,343 in cash commissions on the transaction; no finders’ warrants were issued.
  • Proceeds are earmarked for general and administrative expenses, working capital, and to accelerate development activities at the high‑grade Ima Mine Project.

Key Details

  • Offering Size: 6,500,198 common shares sold.
  • Price per Share: C$2.58.
  • Gross Proceeds: C$16,770,510.
  • Commission Paid: C$741,343 (aggregate cash commissions).
  • Financing Structure: Non‑brokered private placement conducted under the Listed Issuer Financing Exemption (NI 45‑106 Part 5A). No hold period applies to the shares issued.
  • Use of Proceeds: General and administrative expenses, working capital, fast‑track development activities, additional drilling, technical studies, and other project‑related expenditures for the Ima Mine Project.
  • Future Tranche: Company indicated a subsequent tranche will be closed to complete the offering.

Notable Quotes

“We are very pleased to announce the closing of this first tranche, reinforcing institutional support despite challenging market dynamics… Funds will be immediately deployed to fast‑track development activities, additional drilling, expediting technical studies and bolstering working capital.” – Ali Haji, CEO

Read the original news release →

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