Nine Mile Metals closes $182,132 unit private placement

Executive Summary

• Nine Mile Metals closed an oversubscribed non‑flow‑through private placement, issuing 12,142,174 units at C$0.015 per unit for gross proceeds of approximately $182,132.
• Each unit includes one common share and a half‑share purchase warrant (exercise price C$0.05, 36‑month term).
• Proceeds will be used to fund general and administrative obligations; the related flow‑through private placement remains open with closing expected soon.

Key Details

• Units Issued: 12,142,174 units
• Price per Unit: C$0.015 (1.5 cents)
• Gross Proceeds: $182,132 (CAD)
• Unit Composition: 1 common share + ½ common‑share purchase warrant
• Warrant Terms: Right to purchase one common share at C$0.05 per share; exercisable for 36 months from issuance
• Hold Period: All securities subject to a four‑month‑and‑one‑day hold period under securities legislation
• Use of Proceeds: General and administrative obligations of the company
• Flow‑Through Placement Status: Still open; closing expected shortly

Notable Quotes

(No executive quotes were provided in the release.)