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Financings

American Tungsten completes first tranche of financing

By The Northwire Desk — AI Analysis Oct 22, 2025 · 15:46 TUNG · 2.605 American Tungsten Corp
TUNG · Price

Executive Summary

  • American Tungsten Corp. has completed the first tranche of its non-brokered private placement, raising gross proceeds of $16,770,510.
  • The company issued 6,500,198 common shares at a price of $2.58 per share under the listed issuer financing exemption.
  • Proceeds are designated for general and administrative expenses, working capital, and to fast-track the development of the Ima mine project, including additional drilling and technical studies.

Key Details

  • Transaction Structure: Non-brokered private placement, first tranche completed.
  • Gross Proceeds: $16,770,510.
  • Shares Issued: 6,500,198 common shares.
  • Price Per Share: $2.58.
  • Exemption Used: Listed issuer financing exemption under Part 5A of National Instrument 45-106, as amended by Coordinated Blanket Order 45-935.
  • Hold Period: None; shares are not subject to a hold period under applicable Canadian securities laws.
  • Commissions: Aggregate cash commissions of $741,343 paid on gross proceeds.
  • Warrants: No finder warrants were issued.
  • Use of Proceeds: General and administrative expenses, working capital, fast-tracking development activities, additional drilling, expediting technical studies, and bolstering working capital.
  • Future Plans: The company anticipates closing a subsequent tranche to complete the balance of the offering.

Notable Quotes

  • "We are very pleased to announce the closing of this first tranche, reinforcing institutional support despite challenging market dynamics and volatility. Given the logistics associated with the repricing, the company will be required to close a subsequent tranche. The company will remain committed to value creation that ensures fiduciary responsibility is upheld across all verticals. Securing this capital demonstrates strong investor confidence in our strategy to advance the high-grade Ima mine project. Funds will be immediately deployed to fast-track development activities, additional drilling, expediting technical studies and bolstering working capital." — Ali Haji, Chief Executive Officer
Read the original news release →

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