American Tungsten Corp. has announced an increase in its non-brokered private placement from the initially planned $2.5 million to $7.0 million, due to heightened interest. The company plans to issue up to 14,000,000 common shares at a price of $0.50 per share. The funds raised will support exploration programs, option payments, mineral property acquisitions, marketing, and general working capital. The completion of the offering is contingent on necessary corporate and regulatory approvals. All securities issued will have a statutory hold period of four months plus a day. CEO Ali Haji highlighted the offering as a significant step toward advancing the IMA Project, a high-grade tungsten asset, and positioning American Tungsten as a key domestic supplier of critical minerals. Additionally, eligible finders will receive up to 7.0% finders' fees and finders' warrants, allowing acquisition of additional shares at the set price within 24 months.
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