Latest news with #AmericanTungsten
Business Upturn
12 hours ago
- Business
- Business Upturn
American Tungsten Corp. Announces Closing of Upsized $7m Financing
Vancouver, BC, July 24, 2025 (GLOBE NEWSWIRE) — American Tungsten Corp. (CSE:TUNG) (OTCQB:DEMRF) (FSE:RK9) ('American Tungsten' or the 'Company') is pleased to announce, further to its news releases of June 30, 2025 and July 17, 2025, the successful closing of its oversubscribed non-brokered private placement (the 'Offering'). Pursuant to the Offering, the Company issued 14,000,000 common shares (the 'Shares') at a price of C$0.50 per Share raising gross proceeds of C$7,000,000. The strong demand from institutional investors and insiders underscores growing confidence in the Company's vision, strategy, and momentum in the critical metals space. In consideration for providing certain finder's services to the Company in connection with the Offering, the Company paid cash finder's fees of an aggregate C$253,421.35 to certain arm's-length finders, representing 3.6% of the gross proceeds received by the Company from subscribers that were introduced to the Company by such finders. The Company also issued 502,293 common share purchase warrants (the 'Finder's Warrants'), to certain arm's-length finders. Each Finder's Warrant is exercisable to acquire one Share at an exercise price of $0.50 per Share for a period of 24-months from the date of issuance. All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on November 25, 2025. 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. The Company also announces the appointment of Dennis Logan as Chief Financial Officer, effective immediately. Mr. Logan brings over 25 years of executive leadership in financial services and the resource sector. He previously held senior financial roles with publicly traded companies including Almonty Industries Inc., where he played a key role in securing capital and driving operational efficiency within the tungsten industry. The Company would also like to extend its sincere gratitude to Mr. Ajay Toor, for his dedication during his tenure and wish him success on his future endeavors. Ali Haji, who has served as CEO since April 14, and brings over 20 years of metals and mining experience and investment management, will also join the Board of Directors, further strengthening the Company's governance and strategic oversight. 'Investor demand exceeded our expectations, and we are grateful for the vote of confidence in our long-term strategy and vision,' said Ali Haji, CEO of American Tungsten. 'This financing allows us to accelerate our development plans of our flagship Ima Mine asset in Idaho towards commercial production. With Dennis' leadership in financial strategy and capital markets, we are assembling the right team to guide American Tungsten into its next chapter of growth and value creation. I am also honoured to join the Board of Directors and look forward to contributing further to our governance and strategic execution.' 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 assets in North America. The Company is advancing the Ima Mine Project in Idaho to commercial production, addressing critical metal scarcity in North America The Company's Ima Mine Project is a historic and high-quality underground tungsten past-producing property, where the Company 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. Social media links: LinkedIn: X: Facebook: corp/ Instagram: YouTube: For further information, please contact: Ali HajiChief Executive Officer Email: [email protected] Phone: +1 (647) 871-4571
Toronto Star
7 days ago
- Business
- Toronto Star
American Tungsten Corp. Announces Upsize in Private Placement from $2.5 Million to $7.0 Million
Vancouver, BC, July 17, 2025 (GLOBE NEWSWIRE) — American Tungsten Corp. (CSE:TUNG) (OTCQB:DEMRF) (FSE:RK9) ('American Tungsten' or the 'Company') is pleased to announce, further to its news release of June 30, 2025, due to added interest, it is increasing the maximum amount to be raised under its previously announced non-brokered private placement of common shares of the Company (the 'Shares') from 5,000,000 Shares to up to a maximum of 14,000,000 Shares at a price of $0.50 per Share, for aggregate gross proceeds up to $7.0 million (the 'Offering'). 'This is a strong indication of the growing support for the IMA Project — a high-grade tungsten asset with the potential to become the first new tungsten producer in North America. It marks a key milestone in solidifying our path toward commercial production and advancing American Tungsten as a domestic supplier of critical minerals,' said Ali Haji, CEO of American Tungsten Corp.
Hamilton Spectator
7 days ago
- Business
- Hamilton Spectator
American Tungsten Corp. Announces Upsize in Private Placement from $2.5 Million to $7.0 Million
Vancouver, BC, July 17, 2025 (GLOBE NEWSWIRE) — American Tungsten Corp. (CSE:TUNG) (OTCQB:DEMRF) (FSE:RK9) ('American Tungsten' or the 'Company') is pleased to announce, further to its news release of June 30, 2025, due to added interest, it is increasing the maximum amount to be raised under its previously announced non-brokered private placement of common shares of the Company (the 'Shares') from 5,000,000 Shares to up to a maximum of 14,000,000 Shares at a price of $0.50 per Share, for aggregate gross proceeds up to $7.0 million (the 'Offering'). 'This is a strong indication of the growing support for the IMA Project — a high-grade tungsten asset with the potential to become the first new tungsten producer in North America. It marks a key milestone in solidifying our path toward commercial production and advancing American Tungsten as a domestic supplier of critical minerals,' said Ali Haji, 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: X: Facebook: corp/ Instagram: YouTube: 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@ 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.
Business Upturn
18-07-2025
- Business
- Business Upturn
American Tungsten Corp. Announces Upsize in Private Placement from $2.5 Million to $7.0 Million
Vancouver, BC, July 17, 2025 (GLOBE NEWSWIRE) — American Tungsten Corp. (CSE:TUNG) (OTCQB:DEMRF) (FSE:RK9) ('American Tungsten' or the 'Company') is pleased to announce, further to its news release of June 30, 2025, due to added interest, it is increasing the maximum amount to be raised under its previously announced non-brokered private placement of common shares of the Company (the 'Shares') from 5,000,000 Shares to up to a maximum of 14,000,000 Shares at a price of $0.50 per Share, for aggregate gross proceeds up to $7.0 million (the 'Offering'). 'This is a strong indication of the growing support for the IMA Project — a high-grade tungsten asset with the potential to become the first new tungsten producer in North America. It marks a key milestone in solidifying our path toward commercial production and advancing American Tungsten as a domestic supplier of critical minerals,' said Ali Haji, 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: X: Facebook: corp/ Instagram: YouTube: ON BEHALF OF THE BOARD OF DIRECTORS: Ali Haji Chief Executive Officer 1055 West Georgia Street, Suite 1500Vancouver, BC V6E 0B6 Canada
Yahoo
17-07-2025
- Business
- Yahoo
American Tungsten Corp. Announces Upsize in Private Placement from $2.5 Million to $7.0 Million
- NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES - Vancouver, BC, July 17, 2025 (GLOBE NEWSWIRE) -- American Tungsten Corp. (CSE:TUNG) (OTCQB:DEMRF) (FSE:RK9) ('American Tungsten' or the 'Company') is pleased to announce, further to its news release of June 30, 2025, due to added interest, it is increasing the maximum amount to be raised under its previously announced non-brokered private placement of common shares of the Company (the "Shares") from 5,000,000 Shares to up to a maximum of 14,000,000 Shares at a price of $0.50 per Share, for aggregate gross proceeds up to $7.0 million (the 'Offering'). 'This is a strong indication of the growing support for the IMA Project — a high-grade tungsten asset with the potential to become the first new tungsten producer in North America. It marks a key milestone in solidifying our path toward commercial production and advancing American Tungsten as a domestic supplier of critical minerals,' said Ali Haji, 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: ON BEHALF OF THE BOARD OF DIRECTORS: Ali HajiChief Executive Officer 1055 West Georgia Street, Suite 1500Vancouver, BC V6E 0B6Canada For further information, please contact: Ali Haji, Chief Executive OfficerEmail: ir@ +1 (647) 871-4571 CSE:TUNGOTCQB:DEMRFFSE: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.
