Nine Mile Metals Announces Upsizing of LIFE Offering

Executive Summary

• Nine Mile Metals upsized its previously announced listed issuer financing exemption offering from up to $4 million to up to $6.2 million due to strong investor demand.
• The offering consists of Units (1 common share + 1 warrant) with warrants exercisable at $0.30 for two years; finder’s fees include cash and additional finder warrants priced at $0.19.
• Proceeds are earmarked for exploration activities in the Bathurst Mining Camp and for general and administrative obligations, with closing expected around January 19, 2026.

Key Details

• Upsized Offering Size: Gross proceeds increased to a maximum of $6.2 million (previously $4 million).
• Unit Composition: 1 common share + 1 common‑share purchase warrant per Unit.
• Warrant Terms: Exercise price $0.30, exercisable for 2 years; acceleration provision may be triggered if CSE VWAP ≥ $0.50 for ten consecutive days.
• Finder’s Compensation:
• Cash equal to 8 % of gross proceeds.
• Finder warrants equal to 8 % of Units issued, each 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 19, 2026, subject to regulatory approvals and other conditions.
• Use of Proceeds:
• Exploration activities and related expenses on critical‑minerals projects in the Bathurst Mining Camp.
• General and administrative obligations.
• Regulatory Framework: Offering made under NI 45‑106 listed issuer financing exemption (Part 5A) and Coordinated Blanket Order 45‑935; Units to Canadian residents (excluding Quebec) are not subject to a hold period.
• Acceleration Clause: If CSE VWAP ≥ $0.50 for ten consecutive trading days, Nine Mile may accelerate warrant expiry with at least 30 days’ notice via press release.

Notable Quotes

“We are pleased to announce the upsizing of our financing offering, which reflects strong investor confidence in our exploration program and positions us well to advance our critical‑minerals projects.” – Patrick J. Cruickshank, CEO & Director, Nine Mile Metals Ltd.