Nexmetals makes $25M (U.S.) payment for Selebi, Selkirk

Executive Summary

• Nexmetals Mining Corp. has completed a contingent milestone payment of $25 million (U.S.) to the BCL liquidator, securing unencumbered title to the Selebi and Selkirk assets in Botswana.
• The transaction covers copper, nickel, cobalt, and platinum group element assets, marking a significant step in the company's redevelopment plans for these previously producing mines.
• The payment was funded through a recent equity financing that strengthened the company's balance sheet, allowing Nexmetals to reduce risk and accelerate technical and operational work programs.

Key Details

• Transaction Value: $25 million (U.S.) contingent milestone payment.
• Counterparty: BCL liquidator.
• Assets Acquired: Selebi and Selkirk assets located in Botswana.
• Asset Composition: Copper, nickel, cobalt, and platinum group elements.
• Title Status: Unencumbered title secured following completion of the payment.
• Funding Source: Recent equity financing supported by new and existing institutional investors.
• Strategic Impact: Strengthens balance sheet, reduces risk, and enables acceleration of work programs across both projects.
• Future Outlook: Company plans to provide updates on technical and operational programs in the coming weeks.

Notable Quotes

• "This marks an important turning point for our company. Completing the payment and securing title to the Selebi and Selkirk assets gives us a clear runway to continue advancing these projects. It represents a major step in our effort to position these assets for long-term growth." — Morgan Lekstrom, Chief Executive Officer