Announces Intention to Commence Normal Course Issuer Bid
American Tungsten Corp. Announces Intention to Commence Normal Course
Issuer Bid
- NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES -
Vancouver, British Columbia ‐‐ March 17, 2025 ‐ American Tungsten Corp . ( CSE:TUNG)
(OTCQB:DEMRF) (FSE:RK9) (“American Tungsten ” or the " Company") is pleased to announce its
intention to commence a normal course issuer bid (the “NCIB”), under which it may purchase up to
an aggregate of 500,000 common shares of the Company (" Common Shares "), representing
approximately 2% of the 25,932,806 issued and outstanding Common Shares.
The Company may purchase Common Shares under the NCIB over a 12 -month period beginning on
March 24, 2025. All Common Shares purchased under the NCIB will be purchased on the open market
through the facilities of the Canadian Securities Exchange (the “CSE”) at the prevailing market price of
the Common Shares at the time of purchase and in accordance with the policies of the CSE and
applicable Canadian securities laws.
The Company will fund the purchases of Common Shares under the NCIB with cash on hand. The exact
timing and amount of any purchases of Common Shares made pursuant to the NCIB will depend on
market conditions and other factors. The Company is not obligated to acquire any Common Shares
and may suspend or discontinue purchases under the NCIB at any time. Any Common Shares
purchased by the Company under the NCIB will be cancelled upon their purchase.
Subject to the maximum number of Common Shares which may be purchased under the NCIB, the
Company may purchase under the NCIB up to such number of Common Shares equal to 2.0% of its
issued and outstanding Common Shares over any 30-trading day period.
The Company intends to commence the NCIB as it believes that the market price of the Common
Shares may not fully reflect the value of its business and prospects, and as such it believes that
purchasing its own Common Shares for cancellation is an appropria te strategy for increasing long -
term shareholder value and represents an appropriate use of the Company's financial resources.
The Company has appointed Haywood Securities Inc. to co -ordinate and facilitate the NCIB
transactions on its behalf.
ABOUT AMERICAN TUNGSTEN CORP.
American Tungsten Corp. (previously Demesne Resources Inc.) is a Canadian-based company involved
in the acquisition and exploration of magnetite mineral properties. The Company's Star Project
consists of five contiguous mineral titles covering an area of approximately 4,615.75 hectares located
in the Skeena Mining Division, British Columbia, Canada. The Company has entered into an option
agreement pursuant to which it is entitled to earn an undivided 100% interest in the Star Project.
American Tungsten has also entered into an option agreement, pursuant to which it can acquire a
100% interest (subject to a 2% royalty) in and to the IMA Mine Project, a past producing underground
tungsten mine situated on 21 patented claims located in East Central, Idaho, United States.
Social media links:
LinkedIn: https://www.linkedin.com/company/americantungstencorp/
- 2 -
X: https://x.com/amtungsten
Facebook: https://www.facebook.com/americantungstencorp
Instagram: https://www.instagram.com/americantungstencorp/
YouTube: https://www.youtube.com/@americantungstencorp
ON BEHALF OF THE BOARD OF DIRECTORS:
Murray Nye
CEO
1055 West Georgia Street, Suite 1500
Vancouver, BC V6E 0B6
Canada
For further information, please contact:
Murray Nye, CEO
Email: [email protected]
Phone: +1 (416) 300-7398
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 contains forward-looking statements and forward-looking information within the
meaning of applicable securities laws including, but not limited to, statements with respect to the
timing of the commencement and cessation of the NCIB, the means by which the Company will fund
the purchases of Common Shares pursuant to the NCIB, and the Company's belief that purchasing
its Common Shares under the NCIB is an appropriate strategy for increasing long-term shareholder
value and represents an appropriate use of the Company's financial resources. The use of any of the
words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”,
“project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to i dentify
forward-looking information or statements. The forward -looking statements and information are
based on certain key expectations and assumptions made by the Company. Although the Company
believes that the expectations and assumptions on which such f orward-looking statements and
information are based are reasonable, undue reliance should not be placed on the forward-looking
statements and information because the Company can give no assurance that they will prove to be
correct.
Since forward-looking statements and information address future events and conditions, by their
very nature they involve inherent risks and uncertainties. Actual results could differ materially from
those currently anticipated due to a number of factors an d risks. Factors which could materially
affect such forward -looking information are described in the risk factors in the Company’s most
recent annual management's discussion and analysis that is available on the Company’s profile on
SEDAR+ at www.sedarplus .ca. Readers are cautioned that the foregoing list of factors is not
exhaustive. The forward-looking statements included in this press release are expressly qualified by
this cautionary statement. The forward-looking statements and information contained in this press
release are made as of the date hereof and the Company undertakes no obligation to update publicly
- 3 -
or revise any forward -looking statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable securities laws.