First Nordic Provides Corporate Update

Executive Summary

• First Nordic Metals Corp. will provide Mawson Finland Ltd. with a bridge loan of up to C$1,000,000 at 8% annual interest, payable on January 30 2026 if the acquisition does not close.
• The loan is intended to fund transaction costs and general working capital while the proposed plan‑of‑arrangement acquisition of Mawson is expected to close in mid‑December 2025.
• Concurrently, First Nordic will issue C$1.0 million of common shares (“Retirement Shares”) to former CEO Taj Singh at a deemed price of C$0.38 per share, contingent on TSX Venture Exchange approval and subject to the exchange hold period.

Key Details

• Loan Amount: Up to C$1,000,000 (bridge financing for Mawson).
• Interest Rate: 8% per annum, non‑convertible, no loan bonus or finder’s fees.
• Maturity/Repayment Date: January 30 2026 if the acquisition has not closed; otherwise payable at closing.
• Use of Proceeds: Payment of various costs related to the Mawson acquisition and for general working capital/corporate purposes.
• Acquisition Timeline: Transaction expected to close in mid‑December 2025; loan due if not closed by January 30 2026.
• Retirement Shares Issuance: C$1.0 million of First Nordic common shares issued to Taj Singh upon his resignation as CEO (effective September 2025).
• Share Price for Issuance: Deemed price of C$0.38 per share.
• Regulatory Conditions: Issuance subject to TSX Venture Exchange approval and the exchange hold period under TSXV Policy 4.4.
• Non‑convertibility: Neither principal nor interest on the loan is convertible into Mawson securities.

Notable Quotes

(No direct quotes were provided in the release.)