Nine Mile Metals Announces Scandinavian Alliance Consulting Agreement

Rhea-AI Summary

Nine Mile Metals Ltd. (CSE: NINE, OTCQB: VMSXF) announced a consulting agreement with Karlsson Group Limited on March 1, 2023. The three-month engagement aims to enhance brand awareness and broaden the Company’s reach in Scandinavian markets. Nine Mile will compensate Karlsson $35,884 monthly, with an option to convert to shares at a 10% discount on the 5-day VWAP. The firm focuses on Critical Minerals Exploration in New Brunswick, exploring four VMS projects, including the newly added Wedge VMS project, catering to the rising demand for copper, silver, lead, zinc, and gold driven by EV and green technologies.

Positive

• Engaged Karlsson Group for a focused European awareness campaign, enhancing brand visibility.
• Secured a structured consulting agreement with clear monthly payments and share conversion options.

Negative

• Monthly payments of $35,884 might strain cash flow without immediate returns from the campaign.

VANCOUVER, British Columbia, March 02, 2023 (GLOBE NEWSWIRE) -- NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”), is pleased to announce that it has entered into a consulting services agreement dated March 1, 2023 (the "Consulting Agreement") with Karlsson Group Limited, doing business as Scandinavian Alliance ("Karlsson") for a period of three months. Karlsson will undertake a comprehensive European awareness campaign for the Company, including consultation, advice, heightening brand awareness, broadening the Company's reach within the Scandinavian audience, and similar activities designed to further the business and development interests identified by the Company.

During the three-month term of the Consulting Agreement, the Company will pay Karlsson $35,884 per month, in arrears. Instead of receiving cash, Karlsson may choose to convert the debt owing to it into shares of the Company at a 10% discount on the Company’s 5-day VWAP prior to the end of the month in question, subject to the minimum price allowed by the policies of the Canadian Securities Exchange. Such shares will be subject to a four month and a day hold period as required pursuant to applicable securities laws.

About Nine Mile Metals Ltd.:

Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration (CME) VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four (4) VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East–West) VMS and the new Wedge VMS Projects. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold.

Social Media

Twitter	@NineMileMetals
LinkedIn	Nine Mile Metals
Facebook	@ Nine Mile Metals
Instagram	Nine Mile Metals
YouTube	@ninemilemetals

ON BEHALF OF NINE MILE METALS LTD.

“Patrick J Cruickshank, MBA”
CEO and Director
T: +1.506-804-6117
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 Karlsson will provide the services 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.

FAQ

What is the purpose of Nine Mile Metals' consulting agreement with Karlsson Group?

The agreement aims to enhance brand awareness and increase the Company's reach within the Scandinavian market.

How much is Nine Mile Metals paying Karlsson Group for their consulting services?

Nine Mile Metals will pay Karlsson $35,884 per month under the consulting agreement.

What options does Karlsson have regarding their payment from Nine Mile Metals?

Karlsson can convert their consulting fees into shares at a 10% discount on the Company's 5-day VWAP.

What projects is Nine Mile Metals currently focused on?

Nine Mile Metals is focused on four VMS projects, including the new Wedge VMS project.

How does Nine Mile Metals plan to benefit from the awareness campaign in Europe?

The campaign is designed to increase brand visibility and market reach, potentially attracting more investors and partners.