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American Tungsten Announces Completion of $16.8 Million; First Tranche of LIFE Offering
American Tungsten Announces Completion of $16.8 Million; First Tranche of LIFE Offering.
About this update from American Tungsten Corp.
[{"type":"text","content":"\r\n\r\n \r\n \r\n American Tungsten Announces Completion of $16.8 Million; First Tranche of LIFE Offering\r\n \r\n \r\n\r\n\r\nAmerican Tungsten Announces Completion of $16.8 Million; First Tranche of LIFE Offering\r\n\r\n\r\n\r\nNewsfile Corp.\r\n\r\n\r\nNewsfile Corp\r\n\r\n\r\nVancouver, 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$16,770,510 from the sale of 6,500,198 common shares of the Company (each, an \"Share\", and collectively, the \"Common Shares\") at a price of C$2.58 per Share (the \"LIFE Offering\") under the Listed Issuer Financing Exemption (as defined herein).\r\nThe 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.\r\nThe 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.\r\nIn connection with the First Tranche, the Company paid aggregate cash commissions of C$741,343 on gross proceeds of C$16,770,510. No finders' warrants were issued.\r\nAli 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 com...