American Tungsten Completes C$40 Million Bought Deal Financing

Core Viewpoint - American Tungsten Corp. has successfully closed a bought deal private placement, raising gross proceeds of C$40,002,060 to advance its IMA Mine Project and for general corporate purposes [1][4]. Group 1: Offering Details - The Offering consisted of 14,286,450 units priced at C$2.80 per unit, including the full exercise of the Underwriters' option [1]. - Each unit comprises one Class A common share and one-half of a Class A common share purchase warrant, with warrants exercisable at C$3.75 until March 18, 2029 [2]. - The Underwriters received a cash commission of approximately C$2,400,123, which is 6.0% of the gross proceeds, along with 857,187 broker warrants [3]. Group 2: Use of Proceeds - The net proceeds from the Offering are intended for exploration and development at the IMA Mine Project, as well as for working capital and general corporate purposes [4]. Group 3: Regulatory and Compliance - The Offering was conducted under applicable prospectus exemptions in Canada and the United States, and is subject to a four-month hold period as per Canadian securities laws [5][6]. - The securities issued have not been registered under the U.S. Securities Act and cannot be offered or sold within the United States without proper registration or exemption [7]. Group 4: Company Overview - American Tungsten Corp. focuses on high-potential tungsten and magnetite assets in North America, particularly advancing the IMA Mine Project in Idaho [8]. - The IMA Mine Project is a historic underground tungsten property with significant infrastructure, and the company holds an exclusive option to acquire full ownership [8].