American Tungsten Corp. Announces Upsize in Private Placement from $2.5 Million to $7.0 Million

Core Viewpoint - American Tungsten Corp. is increasing its non-brokered private placement of common shares from 5 million to a maximum of 14 million shares at a price of $0.50 per share, aiming to raise up to $7 million in gross proceeds, indicating strong support for its IMA Project, a high-grade tungsten asset [1][2]. Group 1: Offering Details - The maximum amount to be raised in the private placement has been increased to 14 million shares at $0.50 per share, totaling up to $7 million in gross proceeds [1]. - The company will pay finders' fees of up to 7% of the gross proceeds and issue non-transferable finders' warrants equal to 7% of the shares sold [3]. - The net proceeds from the offering will be used for exploration work programs, option payments, mineral property acquisitions, marketing, and general working capital [4]. Group 2: Company Overview - American Tungsten Corp. is focused on high-potential tungsten and magnetite projects in North America, particularly advancing the IMA Mine Project in Idaho, which has historical significance as an underground tungsten producer [6]. - The company holds an option to acquire full ownership of the IMA Mine Project, subject to a 2% royalty, and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres [6].