NGEx Minerals Announces C$100 Million Private Placement

Executive Summary

• NGEx Minerals announced a non‑brokered private placement of up to 4,000,000 common shares at C$25.00 per share, targeting gross proceeds of C$100 million.
• Net proceeds are earmarked for advancing exploration at the Lunahuasi project (Argentina), construction of an adit (subject to permits), support for the Los Helados project (Chile), and general corporate working capital.
• The placement is expected to close as soon as practicable pending TSX and other regulatory approvals; a 5 % finder’s fee may be paid, and the Lundin Family Trusts have indicated intent to subscribe for up to C$100 million.

Key Details

• Offering Size: Up to 4,000,000 common shares.
• Price per Share: C$25.00.
• Gross Proceeds Target: C$100 million.
• Use of Proceeds:
• Exploration programs at Lunahuasi (San Juan Province, Argentina).
• Potential construction of an exploration adit and supporting infrastructure (pending permits).
• Work to support inclusion of Lunahuasi under Argentina’s RIGI incentive regime.
• Continued exploration and maintenance of Los Helados project (Region III, Chile).
• General corporate and working capital purposes.
• Regulatory Conditions: Subject to TSX approval and customary closing conditions; shares will be issued under prospectus exemptions with a statutory hold period of four months and one day.
• Finder’s Fee: Up to 5 % may be paid on a portion of the placement.
• Related Party Participation: Lundin Family Trusts intend to subscribe for up to C$100 million; transaction qualifies as a related‑party transaction but is exempt from MI 61‑101 valuation and minority‑shareholder approval thresholds (≤25 % of market cap).
• Timing: Anticipated closing “as soon as practicable” after receipt of required approvals.
• Spin‑Out Interaction: Closing of the private placement is expected to occur before completion of the previously announced spin‑out of LunR Royalties; shares issued in this placement will be eligible to participate in that arrangement on the same terms as existing shares.
• Arrangement Details (Context):
• Shareholders approved a statutory plan of arrangement to spin out net smelter return royalties into LunR Royalties Corp.
• Each NGEx shareholder will receive one new NGEx share and ¼ of a LunR Royalties share per existing share, pending final order from the BC Supreme Court (obtained September 18 2025).
• Arrangement anticipated to close in Q4 2025.

Notable Quotes

No direct quotes were included in the release.