Nine Mile Metals Announces Private Placement of up to $4 Million

Executive Summary

• Nine Mile Metals Ltd. announced a private placement of up to 21,052,632 units at $0.19 per unit, targeting gross proceeds of up to $4 million.
• Each unit consists of one common share and one warrant exercisable at $0.30 for two years; finders will receive cash fees (8% of proceeds) plus additional warrants.
• Proceeds are earmarked for exploration activities in the Bathurst Mining Camp and for general and administrative expenses.

Key Details

• Units Offered: Up to 21,052,632 units @ $0.19 per unit → Maximum gross proceeds: $4,000,000.
• Unit Composition: 1 common share + 1 common‑share purchase warrant (exercisable at $0.30 for 2 years).
• Finder Compensation:
• Cash fee equal to 8% of gross proceeds.
• Finder warrants equal to 8% of units issued; each finder warrant exercisable for one additional unit at $0.19, with a statutory hold period of 4 months + 1 day.
• Closing Date: Expected on or about January 13, 2026 (subject to regulatory approvals and other conditions).
• Accelerated Warrant Expiry Provision: If CSE daily VWAP ≥ $0.50 for ten consecutive trading days post‑closing, Nine Mile may accelerate warrant expiry with ≥30‑day notice via press release.
• Use of Proceeds:
• Exploration activities and related expenses on critical minerals projects in the Bathurst Mining Camp.
• General and administrative obligations.
• Regulatory Framework: Offered under NI 45‑106 listed issuer financing exemption; no hold period for Canadian subscribers under this exemption.

Notable Quotes

• “We are pleased to announce this financing, which will provide essential capital to advance our exploration programs in the world‑renowned Bathurst Mining Camp and support our broader corporate objectives.” – Patrick J. Cruickshank, CEO & Director, Nine Mile Metals Ltd.