Northwire Canada EditionWednesday, August 5, 2026
Sign inSubscribe
Northwire
⌕
SGZ 0.040 +0.0% SGML 14.79 −4.6% DEF 0.177 +7.6% UCU 3.43 −0.6% BBB 0.660 −2.9% PML 1.70 +2.4% GR 0.075 +15.4% GSKR 3.40 +3.3% LAR 8.98 −0.8% LSTR 0.085 +21.4% NTH 0.160 −3.0% BVA 0.800 −3.6% OTMC 0.400 +14.3% GPAC 0.340 +9.7% LEGY 0.940 +0.0% CVB 0.150 +0.0% SGZ 0.040 +0.0% SGML 14.79 −4.6% DEF 0.177 +7.6% UCU 3.43 −0.6% BBB 0.660 −2.9% PML 1.70 +2.4% GR 0.075 +15.4% GSKR 3.40 +3.3% LAR 8.98 −0.8% LSTR 0.085 +21.4% NTH 0.160 −3.0% BVA 0.800 −3.6% OTMC 0.400 +14.3% GPAC 0.340 +9.7% LEGY 0.940 +0.0% CVB 0.150 +0.0%
Drill Results

Metal Source Mining Announces $1.02 Million Private Placement with Eric Sprott and Provides Exploration Update

By The Northwire Desk — AI Analysis Dec 24, 2025 · 14:29 MSM · 0.4 Metalsource Mining Inc.
MSM · Price

Executive Summary

  • Metal Source Mining Inc. announced a non‑brokered private placement of 3,400,000 units at $0.30 per unit, raising gross proceeds of $1.02 million.
  • Each unit consists of one common share and half of a transferable warrant; each full warrant allows purchase of an additional share at $0.40 for two years.
  • The sole investor is Eric Sprott (through 2176423 Ontario Ltd.), with the offering expected to close on or before December 31, 2025 pending regulatory approvals.

Key Details

  • Units Offered: 3,400,000 units @ $0.30 per unit → Gross proceeds: $1,020,000.
  • Unit Composition: 1 common share + ½ transferable common share purchase warrant.
  • Warrant Terms: One whole warrant (comprised of two halves) gives the holder the right to buy one additional common share at $0.40 per share for a period of two years from issuance.
  • Investor: Eric Sprott, via 2176423 Ontario Ltd., acquiring all 3,400,000 units for total consideration of $1,020,000.
  • Closing Timeline: Expected on or before 31 Dec 2025, subject to receipt of required regulatory approvals (including CSE approval).
  • Use of Proceeds: Not explicitly detailed in the release; implied support for ongoing exploration activities.
  • Exploration Update – Silver Hill Project: Hole 4 completed; additional drill holes planned as part of the current phase. Analytical results pending.

Notable Quotes

  • “The Company thanks Mr. Sprott for his continued support in Metal Source Mining.” – CEO Joe Cullen

All securities issued will be subject to applicable statutory hold periods under Canadian securities laws.

Read the original news release →

More from Metalsource Mining Inc.

Jun 30, 2026 · 08:01

Systematically extending high-grade polymetallic corridor at Silver Hill; market yawns at more step-outs, fixated on the pending maiden resource.

Drill Results Jun 24, 2026 · 08:01

Silver Hill step-out drilling validates high-grade polymetallic corridor, but exploration-stage status and lack of resource definition cap near-term re-rating potential.

Drill Results Jun 17, 2026 · 08:01

High-grade polymetallic intercepts fuel Silver Hill exploration, but dilution and pre-revenue status demand caution.

Drill Results Jun 10, 2026 · 08:01

High-grade polymetallic exploration in NC continues to validate thesis, but dilution and pre-revenue status remain key risks.

Drill Results Apr 16, 2026 · 06:01

Silver Hill Drill Program Confirms Polymetallic Depth Potential as Stock Hits New Highs

Drill Results Apr 13, 2026 · 19:16

Metalsource Mining Intersects 48.04 g/t AuEq over 12.62m, Including 210.72 g/t AuEq over 2.74m, Extends Mineralization down Dip 195m, Continues to Expand Gold, Silver and Base Metal Mineralization

Drill Results