American Tungsten reprices shares of LIFE offering

Executive Summary

• American Tungsten Corp. has repriced its previously announced non-brokered private placement under the listed issuer financing exemption (LIFE) to $2.58 per common share due to market volatility.
• The total size of the offering remains upsized to $20 million, with no warrants issued and finders' fees capped at 6.0% paid in cash.
• Net proceeds will be used for the exploration program at the Ima mine, fast-tracking technical studies, and working capital, subject to Canadian Securities Exchange approval.

Key Details

• Repriced Offering Price: $2.58 per common share.
• Total Gross Proceeds: $20 million.
• Instrument Type: Common shares; no warrants attached.
• Finder’s Fees: Cash only, up to 6.0%.
• Administrative Action: An amended and restated LIFE offering document will be filed on SEDAR+ and the company website.
• Investor Process: Investors previously committed to the prior price will receive a simple amendment to confirm allocations at the new $2.58 price.
• Use of Proceeds: Exploration program at the Ima mine, fast-tracking technical studies, and additional working capital.
• Regulatory Status: Subject to approval of the Canadian Securities Exchange.

Notable Quotes

• "Repricing to $2.58 aligns this financing with current market dynamics. Restructuring the offering reflects our commitment to our shareholders, current and prospective, while staying prudent in the current market conditions. The institutional support has been unwavering highlighting strong fundamentals. We are aligning with shareholders by prioritizing capital discipline and long-term value creation. Our focus remains advancing toward production and becoming the next tungsten producer in the United States, delivering strategic relevance in the critical metals space." — Ali Haji, Chief Executive Officer