Strategic Private Placement by American Tungsten Corp. Opened
American Tungsten Corp. Announces Significant Share Offering
American Tungsten Corp. (CSE:TUNG) (OTCQB: DEMRF) (FSE: RK9), a Canadian mining company, is excited to declare its latest initiative: a non-brokered private placement. This offering involves 1,250,000 common shares priced at $1.60 each, totaling an impressive $2,000,000 in gross proceeds. This move marks a pivotal financial step as the company seeks to enhance its operational capabilities and maintain momentum in the competitive mining sector.
Details of the LIFE Offering
This major funding round is structured under the Listed Issuer Financing Exemption. It is designed for investors across various jurisdictions in Canada, with the exception of Quebec. The absence of a hold period makes this offering particularly appealing, allowing immediate access to shares in a market that values liquidity and investor confidence.
Investment Structure and Plans
Funds raised will primarily support property payments, exploration activities, and marketing strategies, in addition to general working capital. Such allocations indicate a clear commitment to growth and resource development, reinforcing investor confidence in American Tungsten's long-term vision.
Conditions and Finder's Fees
The LIFE Offering will close in tranches, contingent on meeting certain conditions, including the necessary regulatory approvals from the Canadian Securities Exchange (CSE). Importantly, American Tungsten Corp. will compensate finders with fees that can reach up to 7.0% of gross proceeds raised, incentivizing participation from eligible finders in the market.
About American Tungsten Corp.
Previously known as Demesne Resources Inc., American Tungsten is dedicated to the acquisition and exploration of promising mineral properties. Its flagship asset, the Star Project, encompasses approximately 4,615.75 hectares and offers a robust foundation for future mining ventures. Furthermore, an option agreement grants the company a pathway to earn a 100% interest in the IMA Mine Project, a former tungsten-producing site in Idaho. Through strategic acquisitions and ongoing efforts, American Tungsten Corp. is well-positioned to leverage its extensive mineral rights portfolio.
Exploring New Opportunities in Mineral Resources
Acquisition strategies are complemented by recent staking efforts, where American Tungsten acquired 113 federal lode mining claims surrounding the IMA Mine Project. Covering 1,988.6 acres, these claims are vital for enhancing resource availability and operational leverage in future projects. This proactive approach showcases the company’s dedication to expanding its mineral asset base.
Corporate Engagement and Communication
Engagement with the investor community is pivotal for corporate growth. American Tungsten maintains a strong online presence through social media platforms, enhancing its visibility and fostering communication with potential investors. Links to their social profiles are readily available, promoting transparency and accessibility.
For inquiries, stakeholders can contact the CEO, Murray Nye, via email or phone. Stability is essential, and American Tungsten continues to prioritize clear lines of communication with both current and prospective investors.
Frequently Asked Questions
What is the purpose of the LIFE Offering by American Tungsten?
The LIFE Offering aims to raise funds for property payments, exploration projects, marketing efforts, and general working capital, facilitating the company's growth strategy.
Where will the Offered Shares be available?
The Offered Shares will be available exclusively to Canadian residents, excluding those in Quebec, providing a wide reach for investment opportunities.
What is the pricing for the Offered Shares?
Each Offered Share is priced at $1.60, with a minimum total gross proceed target of $2,000,000 for the offering to proceed successfully.
How will American Tungsten compensate finders involved in the offering?
Finders will receive a fee of up to 7.0% of gross proceeds, along with non-transferable finders’ warrants, incentivizing their participation in this financing round.
What future projects is American Tungsten targeting?
American Tungsten is focused on developing its Star Project and expanding mineral claims associated with the IMA Mine Project, enhancing its mining portfolio for long-term growth.
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