New Age Metals Announces Non-Brokered Life Financing
New Age raises $1 million at $0.20 per share to fund testwork at its River Valley PGM project.
New Age Metals Inc. (NAM) announced a non-brokered private placement of 5,000,000 units at $0.20 per unit, raising $1,000,000 gross under the Listed Issuer Financing Exemption (LIFE). Each unit includes one common share and one-half warrant exercisable at $0.25 for 24 months, with an accelerated expiry clause if the share price trades at or above $0.45 for 10 consecutive days.
The proceeds will fund Phase II PLATSOL™ metallurgical optimization at the River Valley Palladium Project, First Nations engagement, data compilation, and working capital. Closing is anticipated around September 22, 2026, subject to TSX Venture Exchange approval.
New Age Metals Inc. (NAM) has raised $1,000,000 in an incremental capital offering, a move expected for a pre-revenue explorer advancing multiple projects. The shares were priced at $0.20, representing a discount to recent trading levels of $0.21–$0.23 and falling below the company’s previous private placement prices in 2025, which ranged from $0.22–$0.26, as well as the July 2026 placement price of $0.31.
The transaction is dilutive, adding 5,000,000 shares and 2,500,000 warrants to the capital structure. However, the raise extends the company's cash runway by approximately 6–9 months given current burn rates. The transaction does not signal a material change to operational strategy or project status; it is purely a capital raise to fund existing exploration and metallurgical work.
New Age Metals Inc. (NAM) operates as a project generator and explorer focused on platinum group metals (PGMs), gold, lithium, and antimony across North America. The company maintains a diversified land package exceeding 100,000 hectares, leveraging historical data and strategic staking to minimize upfront acquisition costs.
Its flagship asset is the River Valley Palladium Project in Ontario, which features a 16-year mine life PEA with average annual production of 47,400 ounces of palladium. The project utilizes the proprietary PLATSOL™ process for high-recovery, smelter-free PGM extraction. The company’s portfolio also includes the Genesis PGM-Cu-Ni project in Alaska, Northern Shield in Ontario's Ring of Fire, Newfoundland Gold-Antimony division, Kenora Gold projects, and a Manitoba lithium portfolio.