American Tungsten arranges $20.02M private placement

Executive Summary

• American Tungsten Corp. has entered into an agreement for a C$20 million bought deal private placement, led by Stifel Canada as the sole bookrunner.
• The company is issuing 7.15 million units at $2.80 per unit, with each unit comprising one Class A common share and one-half of one common share purchase warrant.
• Net 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: Bought deal private placement via a syndicate of underwriters led by Stifel Canada.
• Units Issued: 7.15 million units.
• Price: $2.80 per unit.
• Gross Proceeds: $20.02 million.
• Underwriter Option: The underwriters have an option to purchase up to an additional 15% of units (approx. 1.07 million units) for up to $3,003,000 in additional gross proceeds, exercisable up to 48 hours prior to closing.
• Warrant Terms: Each unit includes one-half of one common share purchase warrant. Each warrant is exercisable to acquire one common share at an exercise price of $3.75 per share. The warrants are valid for 36 months following the closing date.
• Use of Proceeds: Advancing exploration and development at the Ima mine project, working capital, and general corporate purposes.
• Closing Date: Scheduled on or about March 18, 2026.
• Regulatory/Exchange Conditions: Subject to Canadian Securities Exchange policies and a four-month hold period for securities issued.
• Jurisdictions: Offered in Canada (via prospectus exemptions), the United States (via exemptions from the 1933 Act), and other agreed jurisdictions on a private-placement-equivalent basis.