Fox Tungsten secures C$11.1M bought deal to advance BC project

Fox Tungsten CEO Steve Gray joined Steve Darling from Proactive to announce the company has entered into a “bought deal” private placement agreement for gross proceeds of C$11,086,500. The financing is being led by Stifel Nicolaus Canada Inc. as co-lead underwriter, alongside PowerOne Capital Markets Limited. The agreement also includes an over-allotment option allowing underwriters to sell up to an additional C$1.65 million in securities under the same terms, exercisable in whole or in part prior to closing. Proceeds from the financing will be used to advance exploration at the company’s flagship Fox Tungsten Project, as well as support other exploration initiatives, working capital, and general corporate purposes. Located in British Columbia, the Fox Tungsten Project is considered one of the highest-grade tungsten resources globally and benefits from strong infrastructure access, including nearby roads and power. The project is 100%-owned and is strategically positioned to help address growing Western demand for secure tungsten supply. Gray noted that the company’s successful 2025 drill program extended mineralization at the RC and BN zones, and an expanded exploration campaign is planned for 2026. The upcoming program is expected to further grow the resource base and support the development of a Preliminary Economic Assessment (PEA). With this financing in place, Fox Tungsten aims to accelerate its exploration momentum and strengthen its position as a key player in the critical minerals sector. #proactiveinvestors #happycreekmineralsltd #tsxv #foxt #Tungsten #FoxTungsten #TungstenProject #CriticalMinerals #BritishColumbiaMining #FoxTungstenProject #TungstenExploration #CriticalMinerals #MiningInvestment #BoughtDeal #StifelNicolaus #PowerOneCapital #BCMining #MineralResources #PEA #ExplorationUpdate #MiningFinance #SustainableMining #ResourceDevelopment #WesternSupply