American Tungsten Announces Correction to Warrant Terms of Upsized Bought Deal Financing to $35 Million
NEWS RELEASE
AMERICAN TUNGSTEN ANNOUNCES CORRECTION TO WARRANT TERMS OF UPSIZED BOUGHT DEAL
FINANCING TO $35 MILLION
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia – March 2, 2026 — American Tungsten Corp. (CSE:TUNG) (:TUNGF)
(FRA:RK90) (“American Tungsten” or the “Company”). Further to the Company’s financing upsize news release
disseminated this morning announcing it has entered into an amended agreement with Stifel Canada to act as lead
underwriter and sole bookrunner, on behalf of a syndicate of underwriters (together with Stifel Canada, the
“Underwriters”), pursuant to which the Underwriters have now agreed to purchase, on a “bought deal” basis,
12,423,000 units of the Company (the “Units”) at a price of C$2.80 per Unit (the “Offering Price”) for aggregate
gross proceeds of C$34,784,400 (the “Offering”), the Company wishes to clarify that each Unit issued pursuant to
the Offering will consist of one Class A common share (a “Common Share”) in the capital of the Company and one-
half of one Class A common share purchase warrant (each whole warrant, a “Warrant”) rather than a one full Warrant
as previously announced. Each Warrant will be exercisable to acquire one Common Share for a period of 36 months
following the closing date of the Offering at an exercise price of C$3.75 per common share.
The net proceeds from the Offering are expected to be used by the Company to advance exploration and
development at the Company’s IMA Mine Project and for working capital and for general corporate purposes.
The Units will be offered by way of private placement: (a) in each of the provinces of Canada pursuant to applicable
prospectus exemptions under applicable Canadian securities laws; (b) to investors in the United States pursuant to
available exemptions from the registration requirements of the United States Securities Act of 1933, as amended; (c)
in jurisdictions outside of Canada and the United States as are agreed to by American Tungsten and the Underwriters
on a private placement equivalent basis.
The Offering is scheduled to close on or about March 18, 20 26 (the "Closing Date") and is subject to certain
conditions including, but not limited to, the receipt of all necessary regulatory and other approvals.
The Offering is subject to the policies of the Canadian Securities Exchange (the “Exchange”). The securities issued
pursuant to the Offering will subject to a four-month hold period in accordance with applicable Canadian securities
laws and the rules of the Exchange.
The securities referred to in this news release have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered
or sold within the United States or to, or for the account or benefit of, "U.S. Persons" (as such term is defined in
Regulation S under the U.S. Securities Act) absent such registration or an applicable exemption from the registration
requirements of the U.S. Securities Act. This news release does not constitute an offer for sale of securities, nor a
solicitation for offers to buy any securities.
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 on private-patented land well above the water table with significant
infrastructure. The Company holds an exclusive 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.
For further updates, visit www.americantungstencorp.com or investor relations, Joanna Longo at
2
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
For further information, please contact:
Ali Haji
Chief Executive Officer
Email: [email protected]
Phone: +1 647 871 4571
CSE:TUNG
OTCQB:TUNGF
FRA: RK90
Cautionary Note Regarding Forward-Looking Statements
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 regarding the closing of the offering, the timing of the closing of the offering, the use of
proceeds from the offering, the receipt of regulatory approvals and future results of operations, performance and
achievements of the Company. Although the Company be lieves that such forward-looking statements are
reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are
typically identified by words such as: believe, expect, anticipate, intend, estimate, and similar expressions, or are
those, which, by their nature, refer to future events. The Company cautions investors that any forward -looking
statements by the Company are not guarantees of future results or performance, and that actual results may differ
materially from those in forward-looking statements as a result of various factors and risks, including, uncertainties
with respect to obtaining all regulatory approvals to complete the Offering, uncertainties of the global economy,
market fluctuations, the discretion of the Company in respect to the use of proceeds discussed above, any exercise
of termination by counterparties under applicable agreements, the Company’s inability to obtain any necessary
permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or
profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business
strategies, and other risks identified in its disclosure documents filed at www.sedarplus.ca.
Although the Company believes the expectations expressed in such forward -looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance and actual events, results and/or
developments may differ materially from those in the forward-looking statements. Readers should not place undue
reliance on the Company’s forward-looking statements. The forward-looking statements are made as of the date of
this news release and the Company assumes no obligation to update or revise any forward-looking statements to
reflect new events or circumstances, except in accordance with and as required by applicable securities laws.
No securities regulatory authority has either approved or disapproved of the contents of this news release.