Business
American Tungsten Upsizes Non-Brokered LIFE Private Placement to $20 Million
American Tungsten Upsizes Non-Brokered LIFE Private Placement to $20 Million.
About this update from American Tungsten Corp.
[{"type":"text","content":"\r\n\r\n \r\n \r\n American Tungsten Upsizes Non-Brokered LIFE Private Placement to $20 Million\r\n \r\n \r\n\r\n\r\nAmerican Tungsten Upsizes Non-Brokered LIFE Private Placement to $20 Million\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 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 $22.6 million.\r\nThe upsized Offering will consist of up to 6,468,572 common shares of the Company (each, a \"Share\") at a price of $3.50 per Share, issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions and in reliance on Coordinated Blanket Order 45-935. Shares issued under the LIFE exemption will not be subject to a statutory hold period under applicable Canadian securities laws.\r\nIn connection with the Offering, the Company may pay cash finders' fees to eligible finders up to 6.0% of the gross proceeds raised from subscribers introduced by such finders.\r\nAn 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.\r\n\"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.\"\r\nThe 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.\r\nThe Offering is subject to approval of the Canadian Securities Exchange (the \"CSE\").\r\nABOUT AMERICAN TUNGSTEN CORP.\...