Fox Tungsten announces C$11.1M bought deal private placement

Fox Tungsten Ltd (TSX-V:FOXT, OTC:HPYCF, FRA:1HC) announced it has entered into an agreement with Stifel Nicolaus Canada, acting as co-lead underwriter alongside PowerOne Capital Markets Limited and as sole bookrunner, in connection with a bought deal private placement expected to raise approximately C$11.1 million in gross proceeds. Fox Tungsten said it intends to use the net proceeds from the hard dollar units to advance exploration at its Fox Tungsten Project, in British Columbia, Canada, as well as for other exploration initiatives, working capital, and general corporate purposes.