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Namibia Critical Metals Announces CDN $450,000 Private Placement

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Namibia Critical Metals (TSXV:NMI)(OTCQB:NMREF) has announced a non-brokered private placement of up to CDN $450,000 at $0.035 per unit. Each unit includes one common share and one-half warrant, with whole warrants exercisable at $0.05 for 12 months. The placement will issue up to 19,285,714 common shares. Bannerman Energy intends to participate with $189,450, maintaining their 42.1% ownership. The proceeds will fund general corporate purposes, with shares subject to a four-month hold period.

Namibia Critical Metals (TSXV:NMI)(OTCQB:NMREF) ha annunciato un collocamento privato non intermediarato fino a 450.000 CDN $ a $0,035 per unità. Ogni unità include un'azione comune e mezzo warrant, con warrant interi esercitabili a $0,05 per 12 mesi. Il collocamento emetterà fino a 19.285.714 azioni comuni. Bannerman Energy intende partecipare con $189.450, mantenendo il loro 42,1% di proprietà. I proventi finanzieranno scopi aziendali generali, con le azioni soggette a un periodo di blocco di quattro mesi.

Namibia Critical Metals (TSXV:NMI)(OTCQB:NMREF) ha anunciado una colocación privada no intermediada de hasta 450.000 CAD a $0,035 por unidad. Cada unidad incluye una acción ordinaria y medio warrant, con warrants completos ejercitables a $0,05 durante 12 meses. La colocación emitirá hasta 19.285.714 acciones ordinarias. Bannerman Energy tiene la intención de participar con $189.450, manteniendo su 42,1% de propiedad. Los ingresos financiarán fines corporativos generales, con las acciones sujetas a un período de bloqueo de cuatro meses.

나미비아 크리티컬 메탈스 (TSXV:NMI)(OTCQB:NMREF)는 비중개 사모 배치를 통해 최대 450,000 캐나다 달러를 주당 $0.035에 발표했습니다. 각 단위는 보통주 1주와 0.5 개의 보증으로 구성되며, 전체 보증은 12개월 동안 $0.05에 행사할 수 있습니다. 이번 배치는 최대 19,285,714 주식의 보통주를 발행할 것입니다. 배너맨 에너지는 189,450 달러로 참여할 예정이며, 이로써 42.1%의 소유권을 유지합니다. 수익금은 일반 기업 목적을 위해 사용되며, 주식은 4개월의 보유 기간이 적용됩니다.

Namibia Critical Metals (TSXV:NMI)(OTCQB:NMREF) a annoncé un placement privé non intermédiaire de jusqu'à 450 000 CAD à 0,035 $ par unité. Chaque unité comprend une action ordinaire et une demi-option, avec des options entières exerçables à 0,05 $ pendant 12 mois. Le placement émettra jusqu'à 19 285 714 actions ordinaires. Bannerman Energy prévoit de participer avec 189 450 $, maintenant ainsi sa propriété de 42,1 %. Les recettes serviront à financer des fins d'entreprise générales, les actions étant soumises à une période de blocage de quatre mois.

Namibia Critical Metals (TSXV:NMI)(OTCQB:NMREF) hat eine nicht vermittelte Privatplatzierung von bis zu 450.000 CAD zu $0,035 pro Einheit angekündigt. Jede Einheit enthält eine Stammaktie und eine halbe Optionsschein, wobei vollständige Optionsscheine für 12 Monate zu $0,05 ausgeübt werden können. Die Platzierung wird bis zu 19.285.714 Stammaktien ausgeben. Bannerman Energy beabsichtigt, sich mit $189.450 zu beteiligen und damit ihre 42,1%ige Beteiligung zu halten. Die Erlöse werden zur Finanzierung allgemeiner Unternehmenszwecke verwendet, wobei die Aktien einer viermonatigen Haltedauer unterliegen.

Positive
  • Bannerman Energy maintains significant ownership commitment with $189,450 investment
  • Secured additional funding of $450,000 for corporate operations
Negative
  • 11% discount to 50-day moving average price indicates weak market position
  • Potential dilution of existing shareholders through new share issuance
  • Low unit price of $0.035 suggests company valuation concerns

HALIFAX, NS / ACCESSWIRE / November 1, 2024 / Namibia Critical Metals Inc. ("Namibia Critical Metals" or the "Company" or "NCMI") (TSXV:NMI)(OTCQB:NMREF) today announced it intends to complete a non-brokered private placement in the amount of up to $450,000 consisting of units offered at a price of $0.035 per unit ("Private Placement") representing the closing price of the common shares on October 31, 2024 and an 11% discount to the 50-day moving average price of the common shares of the Company. Each unit will consist of one common share and one-half warrant. Each whole warrant will be exercisable for one common share at a price of $0.05 for a period of 12 months. A maximum of 19,285,714 common shares of Namibia Critical Metals will be issued pursuant to the Private Placement (assuming full exercise of all warrants).

Bannerman Energy Ltd. has confirmed their intent to participate in the Private Placement up to a minimum amount of $189,450 representing their current pro rata ownership of the Company of 42.1%. The participation of Bannerman Energy Ltd. (BMN.AX OTCQX:BNNLF) may constitute Related Party Transactions under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI-61-101"). NCMI is relying upon an exemption for shareholder approval required under section 5.7(1)(a) of MI 61-101 on the basis that any related party elements of such transactions would not exceed 25% of market capitalization of NCMI.

The Private Placement is subject to the approval of the TSX Venture Exchange ("TSXV").

The proceeds of the Private Placement will be used primarily to fund general corporate purposes. The common shares and warrants of the Company issued pursuant to the Private Placement will be subject to a four-month hold period.

About Namibia Critical Metals Inc.

NCMI is developing the Tier-1 Heavy Rare Earth Project, Lofdal, a globally significant deposit of the heavy rare earth metals dysprosium and terbium. Demand for these critical metals used in permanent magnets for electric vehicles, wind turbines and other electronics is driven by innovations linked to energy and technology transformations. The geopolitical risks associated with sourcing many of these metals has become a repeated concern for manufacturers and end users. Namibia is a proven and stable mining jurisdiction.

The Lofdal Project is fully permitted with a 25-year Mining License and is under a Joint Venture Agreement with Japan Organization for Metals and Energy Security (JOGMEC).

The Company filed a robust updated PEA for "Lofdal 2B-4" on November 14, 2022, with a post-tax NPV of USD$391 million and an annual IRR of 28% with a capital expenditure of USD$207 million. The project is projected to generate a life of mine nominal cash flow of USD$698 million post-tax over a 16-year mine life.

About Japan Organization for Metals and Energy Security (JOGMEC) and the JV

JOGMEC is a Japanese government independent administrative agency which seeks to secure stable resource supplies for Japan. JOGMEC has a strong reputation as a long term, strategic partner in mineral projects globally. JOGMEC facilitates opportunities with Japanese private companies to secure supplies of natural resources for the benefit of the country's economic development.

Rare earth elements are of critical importance to Japanese industrial interests and JOGMEC has extensive experience with all aspects of the sector. JOGMEC provided Lynas with USD$250,000,000 in loans and equity in 2011 to ensure supplies of the Light Rare Earths metals suite to the Japanese industry.

Namibia Critical Metals owns a 95% interest in the Lofdal project with the remaining 5% held for the benefit of historically disadvantaged Namibians. The terms of the JOGMEC joint venture agreement with the Company stipulate that JOGMEC provides C$3,000,000 in Term 1 and C$7,000,000 in Term 2 to earn a 40% interest in the Lofdal project. Term 3 calls for a further C$10,000,000 of expenditures to earn an additional 10% interest. JOGMEC can also purchase another 1% for C$5,000,000 and has first right of refusal to fully fund the project through to commercial production and to purchase all production at market prices. The collective interests of NCMI and historically disadvantaged Namibians cannot be diluted below a 26% carried working interest upon payment of C$5,000,000 to JOGMEC for the dilution protection. NMI may elect to participate up to a maximum of 44% by funding pro rata after the earn in period is completed.

To date, JOGMEC has completed Term 2 and earned a 40% interest by reaching the C$10 million expenditure requirement. Total approved project funding to date is C$14,541,000 of the $20,000,000 Earn-In requirement to reach 50% interest.

Other exploration projects: The Company's Exclusive Prospecting Licenses ("EPLs") prospective for gold are located in the Central Namibian Gold Belt which hosts a number of significant orogenic gold deposits including the Navachab Gold Mine, the Otjikoto Gold Mine and the Twin Hills deposit. At the Erongo Gold Project, stratigraphic equivalents to the meta-sediments hosting the Osino gold discovery at Twin Hills have been identified and exploration is progressing over this highly prospective area. The Grootfontein Base Metal and Gold Project has potential for magmatic copper-nickel mineralization, Mississippi Valley-type zinc-lead-vanadium mineralization and Otjikoto-style gold mineralization.

The common shares of Namibia Critical Metals Inc. trade on the TSX Venture Exchange under the symbol "NMI" and the OTCQB Market under the symbol "NMREF".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information please contact -

Namibia Critical Metals Inc.

Darrin Campbell, President
Tel: +01 (902) 835-8760
Email: Info@NamibiaCMI.com Web site: www.NamibiaCriticalMetals.com

This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

SOURCE: Namibia Critical Metals Inc.



View the original press release on accesswire.com

FAQ

What is the size of Namibia Critical Metals' (NMREF) November 2024 private placement?

Namibia Critical Metals announced a private placement of up to CDN $450,000 on November 1, 2024.

What is the unit price for NMREF's November 2024 private placement?

The units are offered at $0.035 per unit, representing the closing price on October 31, 2024.

How much is Bannerman Energy investing in NMREF's private placement?

Bannerman Energy intends to invest $189,450, maintaining their 42.1% ownership stake in the company.

What is the warrant exercise price in NMREF's November 2024 private placement?

Each whole warrant will be exercisable for one common share at a price of $0.05 for a 12-month period.

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