Nord Precious closes final tranche of financing

Executive Summary

• Nord Precious Metals Mining Inc. has closed the second and final tranche of its non-brokered flow-through unit private placement, raising $479,000 in gross proceeds.
• The total capital raised across both tranches of the financing is $2,685,500.
• Proceeds will be used for exploration on the Castle East project, qualifying as flow-through critical mineral mining expenditures under the Canadian Income Tax Act.

Key Details

• Transaction Structure: Non-brokered flow-through (FT) unit private placement.
• Units Issued (Tranche 2): 1,196,000 FT units.
• Price per Unit: $0.25 CAD.
• Gross Proceeds (Tranche 2): $479,000 CAD.
• Total Gross Proceeds (Both Tranches): $2,685,500 CAD.
• Unit Composition: Each FT unit consists of one common share and one-half of one share purchase warrant.
• Warrant Terms:
  • Each whole warrant entitles the holder to purchase one additional share.
  • Exercise Price: $0.28 CAD per share.
  • Term: Two years from closing.
  • Acceleration Clause: If the daily volume-weighted average trading price exceeds $0.36 for 10 consecutive trading days, the company may accelerate warrant expiry by providing 30 days' notice.
• Finder’s Fees:
  • Non-transferable warrants to purchase up to 153,280 common shares.
  • Cash payment of $38,320.
  • Finder’s Warrant Exercise Price: $0.25 CAD per share.
  • Finder’s Warrant Term: Two years from closing, subject to the same acceleration clause.
• Hold Periods: All securities (FT units, finder's warrants, and finder's warrant shares) are subject to a statutory hold period of four months and one day following the closing date.
• Regulatory Status: Subject to final TSX Venture Exchange acceptance.
• Use of Proceeds: Exploration on the Castle East project, incurring Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures.

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