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Financings

American Tungsten Announces Completion of Second Tranche LIFE Offering; Total Close of Approx. $18 Million

By The Northwire Desk — AI Analysis Oct 31, 2025 · 07:22 TUNG · 1.9 American Tungsten Corp
TUNG · Price

Executive Summary

  • American Tungsten Corp. completed the second tranche of its non‑brokered private placement, raising C$1,189,380 from the sale of 461,000 common shares at C$2.58 per share.
  • Proceeds will be used for general and administrative expenses and working capital to accelerate development at the Idaho IMA Mine.
  • The company paid cash commissions of C$50,619.60; no finders’ warrants were issued.

Key Details

  • Offering Size: 461,000 common shares sold in the second tranche.
  • Price per Share: C$2.58.
  • Gross Proceeds: C$1,189,380.
  • Commission Paid: C$50,619.60 (aggregate cash commissions).
  • Use of Proceeds: General and administrative expenses; working capital to support acceleration of the Idaho IMA Mine development and broader corporate initiatives.
  • Exemption Used: Listed Issuer Financing Exemption under NI 45‑106 Part 5A (no hold period).
  • No Finders’ Warrants: The tranche did not include any finders’ warrants.
  • Previous Tranches: This is the second tranche; total proceeds from both tranches will be applied as described above.

Notable Quotes

“This second tranche of financing underscores the continued confidence from institutional investors and insiders who recognize tungsten's vital role in building resilient, secure supply chains,” – Ali Haji, CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the company’s filings.

Read the original news release →

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