American Tungsten arranges $20.02M private placement

Mr. Ali Haji reports AMERICAN TUNGSTEN ANNOUNCES C$20 MILLION BOUGHT DEAL PRIVATE PLACEMENT American Tungsten Corp. has entered into an agreement with Stifel Canada to act as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 7.15 million units of the company at a price of $2.80 per unit for aggregate gross proceeds of $20.02-million. Each unit will consist of one Class A common share of the company and one-half of one common share purchase warrant of the company. Each warrant will be exercisable to acquire one common share at an exercise price of $3.75 per common share for a period of 36 months following the closing date (as defined herein). The company has granted the underwriters an option, exercisable up to 48 hours prior to the closing date, to purchase for resale up to an additional 15 per cent of units to be sold under the offering at the offering price for additional gross proceeds of up to $3,003,000. The net proceeds from the offering are expected to be used by the company to advance exploration and development at the company's Ima mine project and for working capital and for general corporate purposes. The units will be offered by way of private placement: (a) in each of the provinces of Canada pursuant to applicable prospectus exemptions under applicable Canadian securities laws; (b) to investors in the United States pursuant to available exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended; (c) in jurisdictions outside of Canada and the United States as are agreed to by American Tungsten and the underwriters on a private-placement-equivalent basis. The offering is scheduled to close on or about March 18, 2026, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals. The offering is subject to the policies of the Canadian Securities Exchange. The securities issued pursuant to the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws and the rules of the exchange. About American Tungsten Corp. American Tungsten is a Canadian exploration company focused on high-potential tungsten and magnetite assets in North America. The company is advancing the Ima mine project in Idaho to commercial production, addressing critical metal scarcity in North America. The company's Ima mine project is a historic and high-quality underground tungsten past-producing property on private patented land well above the water table with significant infrastructure. The company holds an exclusive option to acquire full ownership (subject to a 2-per-cent royalty) and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres. We seek Safe Harbor.