– NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES –
Vancouver, BC, June 30, 2025 (GLOBE NEWSWIRE) — American Tungsten Corp. (CSE:TUNG) (OTCQB:DEMRF) (FSE:RK9) (“American Tungsten” or the “Company”) is pleased to announce that it will proceed with a non-brokered private placement of up to 5,000,000 common shares of the Company (the “Shares”) at $0.50 per Share for gross proceeds of up to $2,500,000 (the “Offering”).
“Securing this capital marks an important step forward for American Tungsten. It allows us to accelerate development of the IMA Tungsten Project and pursue additional strategic opportunities, positioning us to become a leading domestic source of this critical metal. As global demand for tungsten continues to rise, we are proud to advance a secure, North American supply chain that supports long-term growth,” stated Ali Haji, President and CEO of American Tungsten Corp.
In connection with the Offering, the Company will pay finders’ fees of up to 7.0% of the gross proceeds raised by the Company from the sale of Shares to subscribers directly introduced to the Company by eligible finders. In addition, the Company will issue to eligible finders non-transferable finders’ warrants of up to 7.0% of the number of Shares sold in the Offering. Each finders’ warrant will entitle the holder to acquire one Share at a price of $0.50 per Share for a period up to 24 months from the date of issuance, all in accordance with the policies of the Canadian Securities Exchange (“CSE”).
The Company will use the net proceeds from the Offering to fund exploration work programs, option payments, mineral property acquisitions, marketing and for general working capital purposes.
Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the CSE. The Offering is not subject to a minimum aggregate amount of subscriptions. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation and the CSE.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.
ABOUT AMERICAN TUNGSTEN CORP.
American Tungsten Corp. is a Canadian exploration company focused on high-potential tungsten and magnetite portfolio in North America. The Company is advancing the Ima Mine Project in Idaho, a historic underground tungsten producer, where it holds an option to acquire full ownership (subject to a 2% royalty) and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres. The Company’s Star Project, spans over 4,600 hectares in British Columbia’s Skeena Mining Division, where the company holds an option to earn 100% ownership.
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
ON BEHALF OF THE BOARD OF DIRECTORS:
Ali Haji
Chief Executive Officer
1055 West Georgia Street, Suite 1500
Vancouver, BC V6E 0B6
Canada
For further information, please contact:
Ali Haji, Chief Executive Officer
Email: ir@americantungstencorp.com
Phone: +1 (647) 871-4571
CSE:TUNG
OTCQB:DEMRF
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 undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
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