American Tungsten Upsizes Non-Brokered LIFE Private Placement to $20 Million
Rhea-AI Summary
American Tungsten (OTCQB: TUNGF) announced an upsized non-brokered LIFE private placement on October 15, 2025, making it eligible to raise up to $22.6 million. The Offering comprises up to 6,468,572 common shares at $3.50 per share under the LIFE exemption, with shares issued free of a statutory hold period under Canadian securities laws.
The company may pay finders' fees up to 6.0% of gross proceeds. Net proceeds are intended for the IMA Mine exploration program, accelerated technical studies, and working capital. The Offering remains subject to approval by the Canadian Securities Exchange (CSE). An offering document will be posted on SEDAR+ and the company's website.
Positive
- Upsized financing eligibility to raise $22.6M
- Price set at $3.50 per share
- Proceeds earmarked for IMA Mine exploration
- Shares issued without statutory hold period
Negative
- Issuance of up to 6,468,572 shares causing dilution
- Potential finder fees up to 6% reduce net proceeds
- Offering is subject to CSE approval
News Market Reaction – TUNGF
On the day this news was published, TUNGF declined 19.69%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2025) - American Tungsten Corp. (CSE: TUNG) (OTCQB: TUNGF) (FSE: RK9) ("American Tungsten" or the "Company") is pleased to announce that it has upsized its previously announced non-brokered Listed Issuer Financing Exemption (LIFE) private placement offering (the "Offering") reflecting strong investor demand and the Company is eligible under the LIFE Exemption to raise gross proceeds of up to
The upsized Offering will consist of up to 6,468,572 common shares of the Company (each, a "Share") at a price of
In connection with the Offering, the Company may pay cash finders' fees to eligible finders up to
An offering document related to the LIFE Private Placement will be available under the Company's profile at 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.
"This upsized financing underscores the robust institutional appetite for exposure to critical metals and validates American Tungsten's strategic role in strengthening the domestic supply chain," said Ali Haji, CEO of American Tungsten. "The proceeds will accelerate our development timeline and support our transition toward production, reinforcing our vision to become the leading U.S. supplier of tungsten."
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
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/270618
FAQ
What is the size of the American Tungsten (TUNGF) LIFE private placement announced October 15, 2025?
How many shares and what price are being offered in American Tungsten's (TUNGF) financing?
What will American Tungsten (TUNGF) use the net proceeds for after the October 15, 2025 offering?
Will shares from the TUNGF LIFE private placement be subject to a statutory hold period?
Are there fees associated with the American Tungsten (TUNGF) private placement?
Is the American Tungsten (TUNGF) offering finalized and effective immediately?
