Nine Mile Metals arranges $4-million private placement

Executive Summary

• Nine Mile Metals Ltd. has announced a private placement of up to 21,052,632 units for aggregate gross proceeds of up to $4 million.
• Each unit consists of one common share and one common share purchase warrant, with warrants exercisable at 30 cents per share for two years.
• Proceeds are intended for exploration activities on critical minerals projects in the Bathurst mining camp and general administrative obligations.

Key Details

• Transaction Structure: Private placement of up to 21,052,632 units.
• Price: 19 cents per unit.
• Gross Proceeds: Up to $4,000,000.
• Unit Composition: Each unit comprises one common share and one common share purchase warrant.
• Warrant Terms:
  • Exercisable into one common share at a price of 30 cents.
  • Expiration period: Two years.
  • Acceleration Provision: If the daily volume-weighted average trading price equals or exceeds 50 cents for 10 consecutive trading days, the company may accelerate the expiry date with 30 days' notice.
• Finder’s Fees:
  • Cash fee: 8% of gross proceeds.
  • Finders' warrants: 8% of the number of units issued.
  • Finders' warrant terms: Exercisable for one additional unit at 19 cents for two years; subject to a statutory hold period of four months and one day.
• Regulatory Exemption: Offered pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106. No hold period applies to the units or underlying securities for Canadian residents.
• Closing Date: Expected on or about January 13, 2026, subject to regulatory approvals.
• Use of Proceeds:
  • Exploration activities and related expenses on critical minerals projects in the Bathurst mining camp.
  • General and administrative obligations.
• Jurisdiction: Offered to purchasers resident in all Canadian provinces except Quebec and/or other qualifying jurisdictions.

Notable Quotes

• None provided in the text.