American Tungsten increases financing to $34.78-million

Executive Summary

• American Tungsten Corp. has upsize its previously announced bought deal private placement financing to aggregate gross proceeds of approximately $34.8 million due to strong investor demand.
• The offering consists of 12,423,000 units priced at $2.80 per unit, with Stifel Canada acting as sole underwriter and bookrunner.
• Proceeds are designated for advancing exploration and development at the Ima mine project, as well as for working capital and general corporate purposes.

Key Details

• Transaction Structure: Amended bought deal private placement offering.
• Underwriter: Stifel Canada (Sole underwriter and bookrunner).
• Units Issued: 12,423,000 units.
• Issue Price: $2.80 per unit.
• Gross Proceeds: $34,784,400.
• Over-Allotment Option: The underwriter has an option to purchase up to an additional 1,863,450 units at $2.80 per unit under the same terms.
• Option Expiry: Exercisable in whole or in part up to 48 hours prior to the closing of the offering.
• Warrant Terms: Each unit includes one Class A common share purchase warrant.
  • Exercise Price: $3.75 per common share.
  • Term: 36 months following the closing date.
• Use of Proceeds: Advancing exploration and development at the Ima mine project; working capital; general corporate purposes.
• Closing Date: Scheduled on or about March 18, 2026.
• Regulatory Conditions: Subject to receipt of all necessary regulatory and other approvals and policies of the Canadian Securities Exchange.
• Hold Period: Securities are subject to a four-month hold period in accordance with applicable Canadian securities laws and exchange rules.
• Jurisdictions: Offered via private placement in Canada (prospectus exemptions), United States (exemptions from 1933 Act registration), and other agreed jurisdictions.

Notable Quotes

• No direct quotes from management were included in the provided text.