Northwire Canada EditionSaturday, September 5, 2026
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GOLD 4476.60 −1.4% SILVER 66.75 −1.4% COPPER 6.68 +0.3% OIL 91.48 +0.2% PALLADIUM 1403.90 −2.5% JDN 0.230 +0.0% HVG 0.050 +0.0% AUMN 0.305 −3.2% MNRG 0.095 +0.0% SKP 0.165 +0.0% RME 0.235 +0.0% HAY 0.070 −12.5% TIGR 0.900 +0.0% BAU 0.200 −2.4% BEEP 0.215 +7.5% FOXT 0.175 +0.0% ARA 3.56 +2.0% WCU 0.175 +84.2% SGML 17.10 −2.3% TUF 0.730 −6.4% TNR 0.270 −3.6% GOLD 4476.60 −1.4% SILVER 66.75 −1.4% COPPER 6.68 +0.3% OIL 91.48 +0.2% PALLADIUM 1403.90 −2.5% JDN 0.230 +0.0% HVG 0.050 +0.0% AUMN 0.305 −3.2% MNRG 0.095 +0.0% SKP 0.165 +0.0% RME 0.235 +0.0% HAY 0.070 −12.5% TIGR 0.900 +0.0% BAU 0.200 −2.4% BEEP 0.215 +7.5% FOXT 0.175 +0.0% ARA 3.56 +2.0% WCU 0.175 +84.2% SGML 17.10 −2.3% TUF 0.730 −6.4% TNR 0.270 −3.6%
Financings Routine +

Fox Tungsten Closes Bought Deal Private Placement for Gross Proceeds of C$12.7M

Fox Tungsten Secures Funding Amidst Director Turnover

By The Northwire Desk — AI Analysis Apr 23, 2026 · 09:11 FOXT · 0.22 Fox Tungsten Ltd.
Executive Summary
  • Fox Tungsten Ltd. closed a bought deal private placement on April 23, 2026, raising C$12.7M gross proceeds.
  • The offering included 6.1M hard dollar units at $0.165 and 48.875M charity flow-through (FT) units at $0.24.
  • Proceeds are designated for advancing the Fox Tungsten Project exploration, general corporate purposes, and qualifying Canadian/BC exploration expenditures.
  • The deal included an over-allotment option exercise, increasing proceeds from the initial C$11M announcement to C$12.7M.
  • Warrants issued include 1/2 per unit for investors (exercise $0.22, expiry April 23, 2029) and ~3.56M broker warrants (exercise $0.165, expiry April 23, 2029).
  • A corporate presentation dated March 24, 2026, noted the resignation of Director Grant McAdam effective immediately alongside the financing announcement.
Material Impact
  • The closing of a previously announced financing is generally expected and categorized as Routine - Positive rather than Material - Positive.
  • The over-allotment exercise (increasing proceeds by ~15%) indicates strong investor demand, which is favorable but not unexpected given the prior pricing.
  • Dilution is significant; approximately 55M new units were issued, likely doubling or tripling the share count depending on pre-existing holdings.
  • The market price ($0.22) held steady near the FT unit price ($0.24) and above the hard dollar price ($0.165), suggesting the dilution was absorbed without panic selling.
  • The director resignation coinciding with financing raises governance questions but does not immediately alter operational status or project viability.
FOXT · Price
Company Overview
  • Strategy: Focused on making new discoveries in British Columbia within proximity to infrastructure.
  • Flagship Project: Fox Tungsten Deposit (100% owned).
  • Other Assets: Silverboss molybdenum-copper-gold-silver project adjacent to Glencore's closed Boss Mountain mine; Hen-Art-DL gold and silver project.
  • Divestment: Highland Valley Copper Project sold to Metal Energy Corp in November 2024.
  • Status: Exploration stage; no production guidance or reserves specified in provided data.
Read the original news release →

More from Fox Tungsten Ltd.

Sep 04, 2026 · 09:01

Fox Tungsten secured a bc trail permit to de-risk logistics for its 20,000-metre tungsten exploration program.

Drill Results Jul 28, 2026 · 08:50

Fox Tungsten reports visual scheelite hits at Fox North, with assay grades expected to define the true economic value of the deposit.

Drill Results Jun 25, 2026 · 09:00

Fox Tungsten launches a 20,000m drill campaign at its Fox Project to support a 2027 preliminary economic assessment.

Drill Results May 04, 2026 · 09:01

Fox Tungsten Secures C$12.7M Financing While Former CEO Remembered

Management Mar 24, 2026 · 10:04

Fox Tungsten arranges $11.08-million private placement

Financings Mar 24, 2026 · 07:01

Fox Tungsten Announces Bought Deal Private Placement for Gross Proceeds of C$11M

Financings