American Tungsten Reprices Non-Brokered LIFE Private Placement to $2.58 per Share

Rhea-AI Summary

American Tungsten (OTCQB: TUNGF) announced on October 20, 2025 a repricing of its previously announced non-brokered LIFE private placement to $2.58 per common share. The LIFE offering remains upsized to $20 million, will include no warrants, and allows cash-only finders' fees up to 6.0%. The company said it will file an amended offering document on Sedar+ and its website, and will provide simple amendments to prior subscribers to confirm allocations at the new price. Net proceeds are intended for the IMA Mine exploration program, accelerated technical studies, and additional working capital. The Offering is subject to approval by the Canadian Securities Exchange (CSE).

Positive

• Offering upsized to $20 million
• Repriced to $2.58 per share
• No warrants included in the offering
• Proceeds targeted to IMA Mine exploration and technical studies

Negative

• Cash finders' fees up to 6.0%
• Offering is subject to CSE approval
• Repricing cites market volatility

News Market Reaction – TUNGF

-0.37%

1 alert

-0.37% News Effect

On the day this news was published, TUNGF declined 0.37%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - October 20, 2025) - American Tungsten Corp. (CSE: TUNG) (OTCQB: TUNGF) (FSE: RK9) ("American Tungsten" or the "Company") announces revised terms to its previously announced non-brokered private placement under the Listed Issuer Financing Exemption (the "LIFE Offering").

Due to market volatility, the Company will be updating the price on its recently announced LIFE Offering to $2.58 per common share. All other key terms remain the same: the LIFE offering remains upsized to $20 million with no warrants, and finders' fees are cash-only up to 6.0%.

In connection with the repricing, the Company will file an amended and restated LIFE offering document on www.sedarplus.ca and on its website at www.americantungstencorp.com. Prospective investors are encouraged to review this document prior to making an investment decision.

Ali Haji, CEO of American Tungsten, commented: "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." As part of the administrative process, investors who were previously committed to, or sent subscription agreements at the prior LIFE Offering price, will be provided a simple amendment to confirm allocations at $2.58 per common share.

The Company intends to use the net proceeds of the Offering towards its upcoming exploration program at the IMA Mine, fast tracking technical studies, and for additional working capital.

The Offering is subject to approval of the Canadian Securities Exchange (the "CSE").

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 2% royalty) and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres.

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, statements relating to the completion of the Offering on the terms described herein or at all, and the use of proceeds and available funds following the completion of the Offering and are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available. No securities regulatory authority has either approved or disapproved of the contents of this news release. The Company undertake no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271199

FAQ

What price did American Tungsten (TUNGF) set for the repriced LIFE offering on October 20, 2025?

The LIFE offering was repriced to $2.58 per common share.

How large is the LIFE offering for American Tungsten (TUNGF) after the repricing?

The offering was upsized to $20 million and remains non-brokered.

Will American Tungsten (TUNGF) issue warrants with the repriced LIFE offering?

No. The company confirmed the LIFE offering includes no warrants.

What will American Tungsten (TUNGF) use the net proceeds from the LIFE offering for?

Net proceeds are intended for the IMA Mine exploration program, fast-tracking technical studies, and additional working capital.

Are there any fees or approvals related to the American Tungsten (TUNGF) LIFE offering?

Finders' fees are cash-only up to 6.0%, and the Offering is subject to CSE approval.

How will previously committed investors be handled after the repricing for American Tungsten (TUNGF)?

Investors who were previously committed or submitted subscription agreements will receive a simple amendment to confirm allocations at $2.58 per share.