Canadian Warrants

North American Tungsten

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Address: 1640 - 1188 Georgia St W Vancouver BC V6E 4A2
Phone: 604 684 5300 Fax: 604 684 2992
Website: http://www.natungsten.com

Warrant Symbol - NTC.WT
Number Trading - 12,305,000
Expiration Date - March 31, 2013
Cusip - 656914116
Exercise Price - $.075

Warrants called to trade news:

North American Tungsten prospectus offering, warrants

2011-04-06 15:04 MT - Prospectus Approved
The company has closed its financing pursuant to its prospectus dated March 24, 2011, which was filed with and accepted by the TSX Venture Exchange Inc., and filed with and receipted by the British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador commissions, on March 25, 2011, pursuant to the provisions of the applicable securities acts.

The TSX Venture Exchange has been advised that closing occurred on March 31, 2011, for gross proceeds of $11.5-million (including the overallotment option, which has been exercised in full).

Underwriters: Fraser Mackenzie Ltd., Stifel Nicolaus Canada Inc., Octagon Capital Corp. and Scotia Capital Inc.

Offering: 20 million units (each unit consisting of one share and one-half share purchase warrant, with one whole warrant to purchase one common share)

Unit price: 50 cents per unit

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Warrant exercise price/term: Each whole warrant entitles the holder to acquire one additional common share of the company at a price of 75 cents per warrant share until March 31, 2013

Underwriters' compensation: The underwriters will receive a cash fee equal to 7 per cent of the gross proceeds of the offering, being a total of $805,000. The underwriters have been granted 1.61 million compensation units, which is equal to 7 per cent of the number of units issued pursuant to the offering, including the overallotment option. The compensation units shall have the same terms as the units sold under the offering.

Overallotment option: The underwriters were granted an option to purchase an additional three million units at the offering price for a period of up to 30 days from the closing of the offering. The overallotment option has been exercised in full.

Listing of warrants

Effective at the opening, April 7, 2011, 12,305,000 common share purchase warrants of the company will commence trading on the TSX Venture Exchange. The company is classified as a mineral exploration and development company.

Corporate jurisdiction: British Columbia
Capitalization: Unlimited warrants with no par value, of which 12,305,000 warrants are issued and outstanding pursuant to a warrant indenture dated March 31, 2011

Transfer agent: CIBC Mellon Trust Company
Trading symbol: NTC.WT
Cusip No.: 656914116

The warrants were issued pursuant to the company's prospectus dated March 24, 2011. Each warrant entitles the holder to purchase one common share of the company at a price of 75 cents per share and will expire on March 31, 2013.

North American Tungsten

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