American Tungsten Raises C$40 Million to Advance Idaho IMA Mine Project

Demesne Resources Ltd. ( (TSE:TUNG) ) has shared an update.

American Tungsten Corp. has closed a bought deal private placement totaling roughly C$40 million, issuing over 14 million units at C$2.80 each, with each unit comprising one common share and half a warrant exercisable at C$3.75 until 2029. The financing, led by Stifel Canada with a syndicate of underwriters, includes broker warrants and remains subject to Canadian Securities Exchange policies, with the securities subject to a four-month hold period.

Net proceeds will be used to advance exploration and development at the IMA Mine Project in Idaho, as well as for working capital and general corporate purposes, reinforcing the company’s push toward commercial production of tungsten. By strengthening its balance sheet through this cross-border private placement, American Tungsten is better positioned to progress a key North American critical metals asset, which could enhance its role in regional supply chains if project milestones are achieved.

More about Demesne Resources Ltd.

American Tungsten Corp. is a Canadian exploration company focused on high-potential tungsten and magnetite assets in North America. It is advancing the historic underground IMA Mine Project in Idaho toward commercial production, aiming to address critical metal scarcity in the region and expanding its land position with additional federal claims.

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