American Tungsten closes $1.18-million second tranche

Executive Summary

• American Tungsten Corp. completed the second tranche of its non-brokered private placement (the LIFE offering), raising gross proceeds of $1,189,380.
• The total capital raised across both tranches of the offering is approximately $18 million.
• Proceeds from both tranches are designated for general and administrative expenses and working capital.

Key Details

• Transaction Structure: Non-brokered private placement completed under the listed issuer financing exemption (NI 45-106).
• Second Tranche Specifics:
  • Gross Proceeds: $1,189,380
  • Shares Issued: 461,000 common shares
  • Price Per Share: $2.58
  • Cash Commissions Paid: $50,619.60
  • Warrants Issued: None
• Total Offering: The company states the total close of the LIFE offering is approximately $18 million.
• Use of Proceeds: General and administrative expenses and working capital purposes, as detailed in the amended and restated Form 45-106F19 dated Oct. 20, 2025.
• Regulatory Status: Shares are not subject to a hold period under applicable Canadian securities laws.

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," said Ali Haji, chief executive officer. "With this additional capital, we are poised to accelerate development at the Idaho IMA mine and advance our broader mission to establish American Tungsten as a leading North American source of critical minerals."