North American Niobium and Critical Minerals Corp. Announces Closing of Oversubscribed $1.96m Flow-Through Financing

Executive Summary

• North American Niobium and Critical Minerals Corp. closed an oversubscribed non‑brokered private placement of 1,351,955 flow‑through common shares at $1.45 each, raising $1,960,334.75 in gross proceeds.
• Proceeds will be used to incur eligible Canadian exploration expenses in Quebec, with a commitment to renounce an amount equal to the proceeds by Dec 31 2025 and spend them by Dec 31 2026.
• The company paid finder’s fees of $137,223.43 in cash plus 94,636 common share purchase warrants (exercise price $1.45, 24‑month term).

Key Details

• Offering Size & Price: 1,351,955 FT Shares @ $1.45 per share.
• Gross Proceeds: $1,960,334.75 – exceeds the originally proposed amount.
• Use of Proceeds: To incur eligible “Canadian exploration expenses” in Quebec that qualify as flow‑through critical mineral mining expenditures under the Income Tax Act.
• Renunciation Commitment: Company will renounce qualifying expenditures equal to at least the gross proceeds by Dec 31 2025 and incur those expenses by Dec 31 2026.
• Finder’s Fees Paid: $137,223.43 cash plus 94,636 Finder’s Warrants (each exercisable for one common share at $1.45, valid for 24 months).
• Hold Period: All securities issued are subject to a statutory hold period of four months + one day, ending on April 13 2026.
• Total Flow‑Through Funding Secured: With this closing, total flow‑through funding for the 2026 exploration program now stands at $4.82 million.

Notable Quotes

“The overwhelming demand for this financing is a reflection of the strength of the work we’re doing and the potential that our Quebec exploration portfolio continues to show. With total flow‑through funding of $4.82 million secured for our 2026 exploration program, we are well positioned to execute focused and strategic exploration initiatives aimed at generating substantial value for our shareholders,” – Murray Nye, CEO.