Nord Precious amends LIFE offering
Executive Summary
- Nord Precious Metals amends its listed issuer financing exemption, raising a total of up to $4.0 M through two tranches of units priced at C$0.12 per unit.
- Each unit consists of one common share and one warrant (exercise price C$0.155) exercisable for five years; finders receive cash commissions and additional warrants.
- Proceeds will fund tailings‑recovery testing, pilot‑scale Re‑2Ox processing, continued diamond drilling at Castle East, and related administrative expenses.
Key Details
- Financing Structure
- First tranche: 13,056,041 units → gross proceeds $1,566,724.
- Second tranche (private placement): up to 20,277,292 units → gross proceeds $2,433,275.
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Total potential gross proceeds: ≈ $4,000,000.
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Unit Composition – 1 common share + 1 common‑share purchase warrant per unit.
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Warrant Terms – Exercise price C$0.155; exercisable for five years after closing.
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Finder Compensation – 8% cash commission of gross proceeds plus warrants equal to 8% of units sold to finder‑introduced subscribers.
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Advisory Agreement (Research Capital Corp.)
- Work fee: $25,000 cash.
- Issuance of 175,000 adviser shares at C$0.12 per share.
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Both warrants and adviser shares subject to a four‑month‑and‑one‑day hold period.
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Use of Proceeds –
- Test tailings recovery under Ontario Ministry permit.
- Pilot‑scale testing of Re‑2Ox process with SGS Lakefield.
- Continue diamond drilling at Castle East; update resource estimate.
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Finance administrative expenses (legal, audit, overhead, consulting).
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Closing Timeline – Anticipated on or around Oct 9 2025, subject to regulatory approvals and TSX‑V exchange clearance.
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Regulatory Framework – Offered under NI 45‑106 listed issuer financing exemption (Part 5A) as amended by CO 45‑935; units free‑trading in Canada (except Quebec) and other qualifying jurisdictions, with U.S. resale restrictions.
Notable Quotes
(No direct quotes were provided in the release.)