American Tungsten Corp. closes bought deal private placement for gross proceeds of approximately $40 million

On March 18, 2026, American Tungsten Corp. (the “Company“) completed its previously announced bought deal private placement for aggregate gross proceeds of approximately $40,002,060, including the full exercise of the underwriters’ option. The Company issued an aggregate of 14,286,450 units at a price of $2.80 per unit. Each unit consisted of one Class A common share of the Company and one‑half of one Class A common share purchase warrant, with each whole warrant entitling the holder to purchase one additional Class A common share at an exercise price of $3.75 until March 18, 2029.

The offering was conducted by Stifel Canada, as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters that included Integrity Capital Group Inc. and Canaccord Genuity Corp. (the “Underwriters”). 

The Company is a mineral exploration and development company focused on advancing the IMA Mine Project, a past‑producing underground tungsten mine located in Idaho, USA.

Stifel Canada is a full-service investment banking firm which provides advisory and underwriting, institutional sales and trading, and equity research services to corporate clients and institutional investors.

Miller Thomson advised the Underwriters with a team comprised of Andrew Powers, Alex Bruvels, Sam Kelley and Wendy Wang (Capital Markets/Securities), along with the assistance of Kobi Rosoph and Abby Sasitharan (Articling Students).