American Tungsten Announces C$20 Million Bought Deal Private Placement

Executive Summary

• American Tungsten Corp. entered into a bought‑deal private placement agreement for 7,150,000 units at C$2.80 per unit, generating gross proceeds of approximately C$20.0 million.
• Each unit consists of one Class A common share and half of a common‑share purchase warrant (full warrant exercisable at C$3.75 per share for 36 months).
• The company may grant the underwriters an option to purchase up to an additional 15 % of units (≈1,072,500 units) for up to C$3.0 million, and plans to use net proceeds for exploration and development at the IMA Mine Project, working capital, and general corporate purposes.

Key Details

• Units Offered: 7,150,000
• Offering Price: C$2.80 per unit
• Gross Proceeds: C$20,020,000 (≈ US$14.8 million at prevailing rates)
• Unit Composition: 1 Class A common share + ½ of a common‑share purchase warrant (full warrant exercisable at C$3.75/share).
• Warrant Terms: Exercise price C$3.75 per share; valid for 36 months after the closing date.
• Underwriter Option: Up to 15 % additional units (≈1,072,500) purchasable up to 48 hours before closing at the same price, providing potential extra gross proceeds of up to C$3,003,000.
• Lead Underwriter / Bookrunner: Stifel Canada (sole bookrunner) with a syndicate of underwriters.
• Closing Date: Expected on or about March 18, 2026, subject to regulatory approvals and customary closing conditions.
• Use of Proceeds: Advance exploration and development at the IMA Mine Project (Idaho), fund working capital needs, and support general corporate purposes.
• Placement Structure: Private placement under Canadian prospectus exemptions; also offered to U.S. investors under Regulation S and to other jurisdictions as agreed.
• Holding Period: Securities subject to a four‑month hold period per Canadian securities law and CSE rules.

Notable Quotes

(No direct quotes were provided in the release.)