History
Aziel Corp., renamed US Tungsten Corp., moved into Montana tungsten exploration in 2012, funded itself with small raisings and a loan facility, and stopped SEC reporting in 2022.
2012-2013: A move into Montana
Aziel Corp., by then filing as US Tungsten Corp., was an exploration-stage company with no revenue in its earlier filings. In September 2012 it paid John M. Pulos $5,000 for an option to acquire 100% of the Calvert Property, three claims covering 60 acres in Calvert, Montana. Exercising the option required payments totalling $1,000,000 to the owners, Paul and Ted Antonioli, and the property carried a 2% net smelter royalty (a share of sales revenue), of which 1.8% could be bought back for $1,500,000. The filings do not explain the name change or the shift into tungsten. By October 2012 the option also covered 195 newly staked claims of about 3,900 acres.
In early 2013 the company lined up the means to keep going. Dykes Geologic Systems was hired to manage claim staking in the Browne Lake and Greenstone areas, and Circadian Group was hired for investor relations at $6,000 a month. Gultig Holdings was engaged for consulting. Dykes and Gultig were paid with 100,000 and 150,000 shares. A letter of credit allowed borrowing of up to $1,000,000 at 5% interest, convertible into shares at $0.30. Full conversion would bring Themis Partners a warrant for 2,000,000 shares at $0.80. President Matthew Markin also agreed to return 123,000,000 of his shares for cancellation, with no reason given. That fits the fall in shares on issue from 198,750,000 at the end of 2012 to 75,750,000 a year later.
2014-2022: New investor, then silence
The company registered 64 more claims at Beaverhead, Montana, in September 2013 for $12,096. In January 2014 Well Bright Asia Pacific Limited of Hong Kong agreed to buy 2,000,000 units at $0.10 each, $200,000 in total, each unit being a share plus a one-year warrant at $0.10. By March 2014, 1,000,000 units had been paid for and issued, and 195,421 shares were issued at $0.09 as interest. Barry Wattenberg, as CFO and director, was now signing the filings in place of Markin. The remaining $100,000 of the subscription had not been reported. The record then goes quiet until February 2022, when Aziel Corp. suspended its duty to file periodic reports with the SEC.
Written from the 5 story beats below (2012 to 8 Feb 2022), which come from the company's own announcements and filings.