American Tungsten Announces Completion of $16.8 Million; First Tranche of LIFE Offering
American Tungsten (OTCQB: TUNGF) announced on October 22, 2025 the completion of the first tranche of its LIFE Offering, raising C$16,770,510 from the sale of 6,500,198 common shares at C$2.58 per share.
The Common Shares were issued under the Listed Issuer Financing Exemption and are not subject to a Canadian hold period. The company paid aggregate cash commissions of C$741,343. Proceeds will be used for general and administrative purposes, working capital, and to advance the high-grade Ima Mine Project, including development activities, additional drilling and technical studies. Management said a subsequent tranche will be required to complete the offering.
American Tungsten (OTCQB: TUNGF) ha annunciato il 22 ottobre 2025 il completamento della prima tranche della LIFE Offering, raccogliendo C$16,770,510 dalla vendita di 6.500.198 azioni ordinarie al prezzo di C$2,58 per azione.
Le azioni ordinarie sono state emesse ai sensi dell'Esenzione di finanziamento per emittenti quotati e non sono soggette a un periodo di trattenuta in Canada. La società ha pagato commissioni in contanti aggregate di C$741,343. I proventi saranno utilizzati per scopi generali e amministrativi, per il capitale circolante e per avanzare il progetto minerario Ima Mine ad alto tenore, inclusi attività di sviluppo, ulteriori perforazioni e studi tecnici. La direzione ha dichiarato che sarà necessaria una tranche successiva per completare l'offerta.
American Tungsten (OTCQB: TUNGF) anunció el 22 de octubre de 2025 la finalización de la primera tranche de su LIFE Offering, recaudando C$16,770,510 a partir de la venta de 6,500,198 acciones ordinarias a C$2,58 por acción.
Las acciones ordinarias fueron emitidas bajo la Exención de Financiación para Emisores Listados y no están sujetas a un periodo de retención canadiense. La empresa pagó comisiones en efectivo por un total de C$741,343. Los ingresos se utilizarán para fines generales y administrativos, capital de trabajo y para avanzar el Proyecto de Mina Ima de alta ley, incluyendo actividades de desarrollo, perforaciones adicionales y estudios técnicos. La dirección indicó que será necesaria una tranche subsiguiente para completar la oferta.
American Tungsten (OTCQB: TUNGF)는 2025년 10월 22일 LIFE Offering의 첫 번째 트랜치를 완료했고, 판매로부터 C$16,770,510를 모금했으며 6,500,198 주식를 C$2.58에 팔았습니다.
공통주는 상장 발행인 재원 면제 하에 발행되었으며 캐나다의 보유 기간에 구애받지 않습니다. 회사는 총 C$741,343의 현금 커미션을 지급했습니다. 수익은 일반 및 관리 목적, 운전자본, 그리고 고품질 Ima 광산 프로젝트를 추진하기 위한 자금으로 사용될 것이며, 개발 활동, 추가 시추 및 기술 연구를 포함합니다. 경영진은 발행을 완료하려면 후속 트랜치가 필요하다고 말했습니다.
American Tungsten (OTCQB: TUNGF) a annoncé le 22 octobre 2025 l’achèvement de la première tranche de son LIFE Offering, ayant levé C$16,770,510 à partir de la vente de 6,500,198 actions ordinaires à C$2,58 par action.
Les actions ordinaires ont été émises en vertu de l’exemption de financement pour émetteur coté et ne sont pas soumises à une période de détention au Canada. La société a versé des commissions en espèces totales de C$741,343. Les produits seront utilisés pour des besoins généraux et administratifs, le fonds de roulement et pour faire avancer le projet minier Ima de haute teneur, y compris les activités de développement, des forages supplémentaires et des études techniques. La direction a indiqué qu’une tranche subséquente serait nécessaire pour compléter l’offre.
American Tungsten (OTCQB: TUNGF) gab am 22. Oktober 2025 die Fertigstellung der ersten Tranche des LIFE Offerings bekannt und sammelte C$16,770,510 durch den Verkauf von 6.500.198 Stammaktien zu C$2,58 pro Aktie.
Die Stammaktien wurden gemäß der Listing Issuer Financing Exemption ausgegeben und unterliegen keiner kanadischen Haltefrist. Das Unternehmen zahlte insgesamt Bargeldprovisionen in Höhe von C$741,343. Die Erlöse werden für allgemeine und administrative Zwecke, Betriebskapital und zur Voranbringung des hochgradigen Ima-Minenprojekts verwendet, einschließlich Entwicklungsaktivitäten, weiterer Bohrungen und technischer Studien. Das Management erklärte, dass eine nachfolgende Tranche erforderlich sei, um das Angebot abzuschließen.
American Tungsten (OTCQB: TUNGF) أعلن عن 22 أكتوبر 2025 إتمام الشريحة الأولى من LIFE Offering، محققاً جمعية قدرها C$16,770,510 من بيع 6,500,198 سهم عادي بسعر C$2.58 للسهم.
تم إصدار الأسهم العادية بموجب استثناء التمويل للجهات المصدرة المدرجة وليست خاضعة لفترة حيازة كندية. دفعت الشركة عمولات نقدية إجمالية قدرها C$741,343. سيُستخدم العائدات للأغراض العامة والإدارية ورأس المال العامل وللتقدم في مشروع Ima Mine عالي الجودة، بما في ذلك أنشطة التطوير والحفر الإضافي والدراسات الفنية. قالت الإدارة إنه سيكون هناك حاجة إلى شريحة لاحقة لإكمال العرض.
American Tungsten (OTCQB: TUNGF) 于 2025年10月22日 宣布完成 LIFE Offering 的第一批，筹集了 C$16,770,510，通过以 C$2.58 每股出售 6,500,198 股普通股。
普通股是根据上市发行人融资豁免发行的，且不受加拿大持股期限制。公司已支付现金佣金总额为 C$741,343。收益将用于一般及行政用途、营运资金，并推动高品位 Ima 矿项目的进展，包括开发活动、追加钻探和技术研究。管理层表示，为完成本次发行还需后续轮次。
- Gross proceeds of C$16,770,510 raised in First Tranche
- Issued 6,500,198 common shares at C$2.58 per share
- Proceeds allocated to Ima Mine development, drilling and technical studies
- Shares issued under Listed Issuer Financing Exemption with no Canadian hold period
- Aggregate cash commissions of C$741,343 paid on the First Tranche
- Company stated a subsequent tranche will be required to complete the offering
Vancouver, British Columbia--(Newsfile Corp. - October 22, 2025) - American Tungsten Corp. (CSE: TUNG) (OTCQB: TUNGF) (FSE: RK9) ("American Tungsten" or the "Company") is pleased to announce that, further to its press releases dated October 14, 2025, October 15, 2025, and October 20, 2025, it completed the first tranche (the "First Tranche") of its non-brokered private placement (the "LIFE Offering") for gross proceeds of C
The Common Shares were issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). The Common Shares issued under the Listed Issuer Financing Exemption are not subject to a hold period pursuant to applicable Canadian securities laws.
The proceeds raised from the First Tranche will be used by the Company for general and administrative expenses and working capital purposes as further described in the Company's amended and restated Form 45-106F19 Listed Issuer Financing Document dated October 20, 2025 that can be accessed under the Company's issuer profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.americantungstencorp.com.
In connection with the First Tranche, the Company paid aggregate cash commissions of C
Ali Haji, CEO of American Tungsten, commented, "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. We appreciate the support of our new and existing shareholders and look forward to completing the balance of the offering in a subsequent tranche in short order."
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ABOUT AMERICAN TUNGSTEN CORP.
American Tungsten Corp. is a Canadian exploration company focused on high-potential tungsten and magnetite assets in North America. The Company is advancing the Ima Mine Project in Idaho to commercial production, addressing critical metal scarcity in North America. The Company's Ima Mine Project is a historic and high-quality underground tungsten past-producing property on private-patented land well above the water table with significant infrastructure. The Company holds an exclusive option to acquire full ownership (subject to a
For further updates, visit www.americantungstencorp.com or investor relations, Joanna Longo at ir@americantungstencorp.com.
Social media links:
LinkedIn: https://www.linkedin.com/company/americantungstencorp/
X: https://x.com/amtungsten
Facebook: https://www.facebook.com/americantungstencorp/
Instagram: https://www.instagram.com/americantungstencorp/
YouTube: https://www.youtube.com/@americantungstencorp
For further information, please contact:
Ali Haji
Chief Executive Officer
Email: ahaji@americantungstencorp.com
Phone: +1 647 871 4571
CSE:TUNG
OTCQB:TUNGF
FSE:RK9
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release.
This news release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, the net proceeds raised from the First Tranche are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, changes to exploration plans and activities and the costs and timing associated therewith, results from exploration activities, changes in commodities markets, conditions of financial markets, economic conditions including any governmental regulations with respect thereto including tariffs, protective governmental regulations, relations with first nations, governments and other stakeholders, changes to environmental and other laws and regulations affecting mining activities, weather, management's discretion with respect to the use of proceeds and the use of the available funds following completion of the Offering, including the timing and cost of planned activities and the use of funds in connection therewith, and the other risk factors described in our securities filings available at www.sedarplus.ca. Forward-looking statements or forward-looking information relate to future events and future performance and include statements regarding the expectations and beliefs of management based on information currently available to the Company.
Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements and no assurance can be given that such events will occur in the disclosed times frames or at all. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are therefore cautioned not to place undue reliance on forward-looking statements and forward-looking information. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, changing circumstances, or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271421
FAQ
How much did American Tungsten (TUNGF) raise in the first tranche of the LIFE Offering on October 22, 2025?
How many shares did American Tungsten (TUNGF) issue and at what price in the October 22, 2025 tranche?
What will the proceeds from the TUNGF LIFE Offering First Tranche be used for?
Did American Tungsten (TUNGF) pay commissions on the October 22, 2025 tranche and how much?
Are the common shares from the TUNGF LIFE Offering subject to a Canadian hold period?
Will American Tungsten (TUNGF) close more tranches after October 22, 2025?
