Nine Mile Metals Announces Completion of Private Placement Financing
Nine Mile Metals has completed a private placement financing, raising $53,332 through the issuance of 1,066,640 units at $0.05 per unit. Each unit consists of one common share and half of a warrant, with each full warrant allowing purchase of one common share at $0.08 within 24 months. Charles MaLette, the Company's President, acquired 400,000 units. The proceeds will be used for operating expenses, including legal and audit fees and general working capital. All securities are subject to a four-month hold period.
Nine Mile Metals ha completato un finanziamento tramite collocamento privato, raccogliendo $53,332 attraverso l'emissione di 1,066,640 unità a $0,05 per unità. Ogni unità è composta da un'azione comune e metà di un warrant, con ogni warrant intero che consente l'acquisto di un'azione comune a $0,08 entro 24 mesi. Charles MaLette, il Presidente dell'azienda, ha acquisito 400,000 unità. I proventi saranno utilizzati per spese operative, comprese le spese legali e di revisione, e per il capitale circolante generale. Tutti i titoli sono soggetti a un periodo di blocco di quattro mesi.
Nine Mile Metals ha completado una financiación de colocación privada, recaudando $53,332 a través de la emisión de 1,066,640 unidades a $0.05 por unidad. Cada unidad consta de una acción común y la mitad de un warrant, siendo cada warrant completo válido para la compra de una acción común a $0.08 dentro de un período de 24 meses. Charles MaLette, el Presidente de la Compañía, adquirió 400,000 unidades. Los ingresos se utilizarán para gastos operativos, incluidas las tarifas legales y de auditoría, así como para capital de trabajo general. Todos los valores están sujetos a un período de retención de cuatro meses.
나인 마일 메탈즈(Nine Mile Metals)는 사모금융을 완료하였으며, $53,332를 모으기 위해 1,066,640 유닛을 유닛당 $0.05에 발행했습니다. 각 유닛은 하나의 보통주와 반개의 워런트로 구성되어 있으며, 각 전체 워런트는 24개월 이내에 $0.08로 하나의 보통주를 구매할 수 있도록 허용합니다. 찰스 말렛(Charles MaLette) 회사 사장은 400,000 유닛을 인수하였습니다. 수익금은 법률 및 감사 수수료와 일반 운영 자금을 포함한 운영 비용에 사용됩니다. 모든 증권은 4개월의 유예 기간에 따릅니다.
Nine Mile Metals a finalisé un financement par placement privé, levant $53,332 grâce à l'émission de 1,066,640 unités au prix de $0,05 par unité. Chaque unité consiste en une action ordinaire et la moitié d'un bon de souscription, chaque bon de souscription complet permettant l'achat d'une action ordinaire à $0,08 pendant 24 mois. Charles MaLette, le Président de la société, a acquis 400,000 unités. Les produits seront utilisés pour les frais d'exploitation, y compris les frais juridiques et d'audit, ainsi que pour le fonds de roulement général. Tous les titres sont soumis à une période de blocage de quatre mois.
Nine Mile Metals hat eine private Platzierungsfinanzierung abgeschlossen und $53,332 durch die Ausgabe von 1,066,640 Einheiten zu je $0,05 pro Einheit gesammelt. Jede Einheit besteht aus einer Stammaktie und der Hälfte eines Warrants, wobei jeder volle Warrant den Kauf einer Stammaktie zu $0,08 innerhalb von 24 Monaten ermöglicht. Charles MaLette, der Präsident des Unternehmens, erwarb 400.000 Einheiten. Die Einnahmen werden für Betriebskosten verwendet, einschließlich Rechts- und Prüfungsgebühren sowie allgemeines Betriebskapital. Alle Wertpapiere unterliegen einer Haltedauer von vier Monaten.
- Secured $53,332 in new capital through private placement
- Company insider participation shows management confidence
- Small financing amount may indicate investor interest
- Dilutive effect on existing shareholders
- Low unit price of $0.05 suggests weak market conditions
Vancouver, British Columbia--(Newsfile Corp. - November 15, 2024) - NINE MILE METALS LTD. (CSE: NINE) (OTC Pink: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") is issuing the following press release to provide an update to its press release dated September 3, 2024, (click here) and to announce the closing of its private placement to raise
Each Unit is comprised of one common share (a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"), with each Warrant entitling the holder thereof to acquire one Common Share in the capital of the Company at a price of
No commissions were paid in connection with this Private Placement.
The Company intends to use the proceeds for operating expenses, including legal and audit fees and general working capital.
The Common Shares, and any Common Shares to be issued on exercise of the Warrants, are subject to a hold period under applicable Canadian securities laws expiring four months and one day from the date of issuance of the Units.
Charles MaLette, the Company's President, Director and Corporate Secretary, acquired 400,000 Units in the Private Placement. Mr. MaLette purchased the units for investment purposes. The Private Placement and the acceptance of the subscription by Mr. MaLette was approved by unanimous resolution of the board of directors of the Company. There was no formal valuation of the Company done in connection with the Private Placement nor has there been such a formal valuation in the past 24 months. The Company relied upon the exemptions contained in Section 5.5(b) and 5.7(b) of Multilateral Instrument 61-101 ("MI 61-101") to avoid the formal valuation and shareholder approval requirements of MI 61-101. For the purposes of Section 5.5(b), the Company does not have any securities listed on any of the stock exchanges set out in Section 5.5(b) and for the purposes of Section 5.7(b) the exemption was available as the consideration paid for the Units subscribed for by Mr. MaLette was less than
About Nine Mile Metals Ltd.:
Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on Critical Minerals VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company's primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East - West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold.
ON BEHALF OF NINE MILE METALS LTD.
"Patrick J. Cruickshank, MBA"
CEO and Director
T: 506-804-6117
E: patrick@ninemilemetals.com
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that the Company will use the proceeds as described above. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230229
FAQ
How much did Nine Mile Metals (VMSXF) raise in its November 2024 private placement?
What are the terms of Nine Mile Metals (VMSXF) warrants from the November 2024 financing?
How many units did Nine Mile Metals (VMSXF) President Charles MaLette acquire in the private placement?
What is the hold period for Nine Mile Metals (VMSXF) securities from this private placement?
