Nine Mile Metals Closes Fully Subscribed Private Placement and Debt Conversion
Nine Mile Metals (CSE: NINE, OTC: VMSXF) has successfully completed its private placement offering, raising a total of $388,653. The company issued 6,309,699 units at $0.021 per unit in the second tranche, generating proceeds of $132,503. Each unit includes one common share and one warrant, with warrants exercisable at $0.05 for 60 months.
Company directors participated in the second tranche, purchasing 1,217,857 units for $25,575. The proceeds will support general and administrative obligations. All securities issued are subject to a four-month and one-day hold period, with no commissions paid. The offering includes both the original placement of $157,500 and a previously announced debt conversion.
Nine Mile Metals (CSE: NINE, OTC: VMSXF) ha completato con successo la sua offerta di collocamento privato, raccogliendo un totale di $388,653. L'azienda ha emesso 6,309,699 unità a $0.021 per unità nella seconda tranche, generando proventi di $132,503. Ogni unità include una azione comune e un warrant, con i warrant esercitabili a $0.05 per 60 mesi.
I membri del consiglio dell'azienda hanno partecipato alla seconda tranche, acquistando 1,217,857 unità per $25,575. I proventi supporteranno gli obblighi generali e amministrativi. Tutti i titoli emessi sono soggetti a un periodo di blocco di quattro mesi e un giorno, senza commissioni pagate. L'offerta include sia il collocamento originale di $157,500 che una conversione di debito precedentemente annunciata.
Nine Mile Metals (CSE: NINE, OTC: VMSXF) ha completado con éxito su oferta de colocación privada, recaudando un total de $388,653. La compañía emitió 6,309,699 unidades a $0.021 por unidad en la segunda tranche, generando ingresos de $132,503. Cada unidad incluye una acción común y un warrant, con warrants ejercitables a $0.05 durante 60 meses.
Los directores de la compañía participaron en la segunda tranche, comprando 1,217,857 unidades por $25,575. Los ingresos apoyarán las obligaciones generales y administrativas. Todos los valores emitidos están sujetos a un período de retención de cuatro meses y un día, sin comisiones pagadas. La oferta incluye tanto el colocamiento original de $157,500 como una conversión de deuda previamente anunciada.
나인 마일 메탈스 (CSE: NINE, OTC: VMSXF)는 성공적으로 사모 배정을 완료하여 총 $388,653를 모금했습니다. 회사는 두 번째 트랜치에서 6,309,699 유닛을 유닛당 $0.021에 발행하여 $132,503의 수익을 창출했습니다. 각 유닛에는 하나의 보통주와 하나의 워런트가 포함되어 있으며, 워런트는 $0.05에 60개월 동안 행사할 수 있습니다.
회사의 이사들은 두 번째 트랜치에 참여하여 1,217,857 유닛을 $25,575에 구매했습니다. 수익금은 일반 및 관리 의무를 지원할 것입니다. 발행된 모든 증권은 4개월 1일의 보유 기간에 적용되며, 수수료는 지급되지 않았습니다. 이 제안에는 $157,500의 원래 배정과 이전에 발표된 부채 전환이 포함됩니다.
Nine Mile Metals (CSE: NINE, OTC: VMSXF) a réussi à finaliser son offre de placement privé, levant un total de $388,653. L'entreprise a émis 6,309,699 unités à 0,021 $ par unité dans la deuxième tranche, générant des recettes de 132,503 $. Chaque unité comprend une action ordinaire et un bon de souscription, les bons étant exerçables à 0,05 $ pendant 60 mois.
Les administrateurs de l'entreprise ont participé à la deuxième tranche, achetant 1,217,857 unités pour 25,575 $. Les recettes soutiendront les obligations générales et administratives. Tous les titres émis sont soumis à une période de blocage de quatre mois et un jour, sans commissions payées. L'offre comprend à la fois le placement original de 157,500 $ et une conversion de dette précédemment annoncée.
Nine Mile Metals (CSE: NINE, OTC: VMSXF) hat erfolgreich sein Privatplatzierungsangebot abgeschlossen und insgesamt $388,653 gesammelt. Das Unternehmen hat in der zweiten Tranche 6,309,699 Einheiten zu je $0.021 ausgegeben und Einnahmen von $132,503 generiert. Jede Einheit umfasst eine Stammaktie und ein Warrant, wobei die Warrants für $0.05 über 60 Monate ausgeübt werden können.
Die Unternehmensleiter haben an der zweiten Tranche teilgenommen und 1,217,857 Einheiten für $25,575 erworben. Die Einnahmen werden allgemeine und administrative Verpflichtungen unterstützen. Alle ausgegebenen Wertpapiere unterliegen einer Haltefrist von vier Monaten und einem Tag, ohne dass Provisionen gezahlt wurden. Das Angebot umfasst sowohl die ursprüngliche Platzierung von $157,500 als auch eine zuvor angekündigte Schuldenumwandlung.
- Successfully raised $388,653 through private placement and debt conversion
- 100% subscription rate achieved despite challenging market conditions
- Strong insider participation with directors investing $25,575
- No commissions paid on the offering, preserving capital
- Low unit price of $0.021 indicates potential share price weakness
- Significant dilution with 6,309,699 new units issued
- Funds to administrative costs rather than growth initiatives
Toronto, Ontario--(Newsfile Corp. - April 9, 2025) - NINE MILE METALS LTD. (CSE: NINE) (OTC Pink: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") announces completion of the second tranche of a private placement (the "Offering") announced on January 21, 2025. The Company issued 6,309,699 units (each, a "Unit") at a price of
Each Unit consists of one common share of the Company and one common share purchase warrant (each whole common share purchase warrant, a "Warrant"), with each Warrant entitling the holder thereof to purchase one common share at a price of
All Current Directors of the Company participated in the 2nd Tranche of the offering and purchased 1,217,857 Units for (
The proceeds raised through the private placements will be used for general and administrative obligations. All securities issued in the Private Placement are subject to a four month and one day hold period, there were no commissions paid.
The issuance of Common Shares will not result in a new insider or control person. 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.
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 VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East-West) VMS and the 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.
ON BEHALF OF NINE MILE METALS LTD.
'Patrick J. Cruickshank, MBA"
Chief Executive Officer and Director
Tel: (506) 804-6117
Email: info@ninemilemetals.com
The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and reviewed and approved by Gary Lohman, B.Sc., P. Geo., VP Exploration and Director who acts as the Company's Qualified Person and is not independent of the Company.
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. 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/247859
FAQ
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