American Tungsten Completes C$40 Million Bought Deal Financing

Executive Summary

• American Tungsten Corp. closed a bought‑deal private placement raising C$40,002,060 in gross proceeds.
• The offering consisted of 14,286,450 units at C$2.80 per unit, each unit containing one Class A common share and half of a warrant to purchase an additional share at C$3.75.
• Net proceeds will be used to advance exploration and development of the IMA Mine Project, for working capital and general corporate purposes.

Key Details

• Units sold: 14,286,450 units (including full exercise of underwriters’ option).
• Offering price: C$2.80 per unit; total gross proceeds C$40,002,060.
• Unit composition: 1 Class A common share + ½ warrant (each whole warrant allows purchase of one Class A share at C$3.75 before 5:00 p.m. Toronto time on 2029‑03‑18).
• Underwriters: Stifel Canada (lead underwriter/sole bookrunner) with Integrity Capital Group Inc. and Canaccord Genuity Corp.; cash commission ≈ C$2,400,123 (6.0% of gross proceeds).
• Broker warrants: 857,187 broker warrants issued to underwriters (equal to 6.0% of units); each warrant permits subscription for one Class A share at the offering price until 2028‑03‑18.
• Use of proceeds: Advancement of exploration and development at the IMA Mine Project; working capital; general corporate purposes.
• Placement method: Private placement under Canadian prospectus exemptions, U.S. securities act exemptions, and similar exemptions for other jurisdictions.
• Holding period: Securities subject to a four‑month hold period per Canadian securities laws and Exchange rules.
• Regulatory notes: Offering remains subject to CSE policies; securities not registered in the United States and may not be offered or sold to U.S. persons absent exemption.

Notable Quotes

(No executive quotes were included in the release.)