New Age Metals Closes Life Financing
New Age secures $1m life financing to fund platinum group metals and critical metals exploration at its projects.
New Age Metals Inc. has closed a non-brokered private placement under the Listed Issuer Financing Exemption (LIFE), raising $1,000,000 in gross proceeds. The company issued 5,000,000 units at $0.20 per unit, with each unit comprising one common share and one-half of a share purchase warrant. The warrants are exercisable at $0.25 per share and expire on September 16, 2028, subject to an accelerated expiry clause if the share price closes at or above $0.45 for 10 consecutive trading days.
Finder’s fees were paid to Ventum Financial Corp., consisting of $70,000 in cash and 350,000 finder’s warrants that carry the same terms as the investor warrants. The proceeds are allocated to advance the River Valley Palladium Project, specifically Phase II PLATSOL™ metallurgical optimization, as well as First Nations engagement and general working capital. This announcement closes the financing initially announced on September 9, 2026.
New Age Metals Inc. (NAM) announced a financing round that serves as a routine follow-up to its September 9 announcement, providing necessary working capital for exploration and metallurgical testwork. The $0.20 issue price aligns with the recent trading range, indicating fair market pricing without significant discounting. Proceeds from the offering will directly target the flagship River Valley PGM project and critical metals exploration, aligning with the company's stated 2026 operational plan. The transaction does not introduce any material change to the company's strategic direction or financial health, simply extending the cash runway while remaining dilutive to existing shareholders.
New Age Metals Inc. (NAM) is a pre-revenue project generator and explorer focused on platinum group metals (PGM), gold, lithium, and antimony. The company operates as a strategic land assembler and exploration partner, leveraging historical data and modern geophysics to identify drill-ready targets.
Its flagship asset is the River Valley Palladium Project in Ontario, a 100% owned, multi-million-ounce district-scale PGM-Cu-Ni asset. The project has completed a 2023 Preliminary Economic Assessment (PEA) and is currently advancing Phase II PLATSOL™ metallurgical optimization.
Other key assets include the Genesis PGM-Cu-Ni project in Alaska, a Newfoundland Gold-Antimony division, a Manitoba Lithium-Cesium-Tantalum portfolio, and a diversified Kenora Gold & Critical Metals division.