Toronto, Ontario--(Newsfile Corp. - July 2, 2025) - NINE MILE METALS LTD. (CSE: NINE) (OTC Pink: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") announces its intention to complete a new Flow-through ("FT") and Non-flow-through ("NFT") private placement for proceeds of up to $400,000 (the "Private Placement"). The FT private placement will consist of the sale of up to 12,500,000 units (each a "Unit") at a price of $0.02 per Unit for gross proceeds up to $250,000. Each Unit will be comprised of one common ...

Core Viewpoint - Nine Mile Metals Ltd. has received a $40,000 grant from the New Brunswick Department of Natural Resources and Energy Development to support exploration on the California Lake East VMS Project [1][4]. Exploration Plans - The company submitted a proposal in April 2025 for specific exploration on the California Lake East VMS Project, where previous drilling in 2022 confirmed the presence of a VMS system [2]. - Planned exploration will focus on the stratigraphic horizon and EM strong late-time conductors, with ground-based geophysics to define prioritized drill targets [2][6]. - Target 6 has been identified as a high-priority new target, potentially the source of the previously successful VMS drill program at Target 8 [2][8]. Support and Community Engagement - The New Brunswick government continues to support the mining community in the Bathurst Mining Camp through the Junior Mining Assistance Program, which funds projects of high interest [4]. - The company expresses gratitude for the ongoing support from the New Brunswick Department of Natural Resources and the local mining community [8]. Company Overview - Nine Mile Metals Ltd. is focused on Critical Minerals VMS exploration in the Bathurst Mining Camp, with projects including Nine Mile Brook, California Lake, Canoe Landing Lake, and Wedge VMS Projects [9]. - The company aims to position itself for the demand in EV and green technologies, which require critical minerals such as Copper, Silver, Lead, and Zinc, while also having a hedge on Gold [9].

新消费导读 消费塑造中国经济。 编辑：竺天 审核： Single 5月22 日 -23 日，由北京市商务局指导，通州区商务局支持、国际品牌研究和赋能平台 iBrandi品创主办的第三届品创·品牌节将以「全球 新流行」为活动主线开展为期两天的大会议程。 以下文章来源于iBrandi品创 ，作者赋能全球品牌 iBrandi品创 . 以"赋能全球品牌"为使命，探索品牌发展的无限可能，并通过无限种可能，赋能品牌成长。 这是新消费智库第 2 6 4 2 期文章 在消费市场的迷雾中，一群「非典型」品牌正以破竹之势改写游戏规则。当传统行业还在困守品类边界时，它们早已跳出「卖产品」的窠臼， 化身为「新生活方式的翻译官」。 这些难以被标签化的「商业怪兽」，正以颠覆式姿态，在新周期下开辟出属于 Z世代的「流行新大陆」。它们是诞生即自带全球化基因的玩 家。 基于以上，第三届品创 ·品牌节以「全球新流行」为活动主线，以"论坛+奖项赛事+新生活方式展+私享会+线上线下视频播客栏目"多位一体 的形式展开。在长达100余天的精心筹备后，活动以为期2天的线下盛大落地为开端。深度挖掘 "全球新年轻人的新生活方式"，探寻并捕捉 "全球新流行" ...

Core Viewpoint - Nine Energy Service, Inc. is conducting its Q1 2025 earnings conference call to discuss financial results and future outlook [1][3]. Group 1: Company Overview - The conference call is hosted by Heather Schmidt, VP of Strategic Development and Investor Relations, with participation from Ann Fox, President and CEO, and Guy Sirkes, SVP and CFO [2][3]. - The call includes forward-looking statements that reflect the company's views on future events, which are subject to risks and uncertainties [4]. Group 2: Financial Reporting - The company will discuss non-GAAP financial measures during the call, with additional details and reconciliations provided in the Q1 press release and on the Investor Relations section of the website [5].

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $150.5 million, an increase of approximately 6% compared to Q4 2024, and within the guidance range of $146 million to $152 million [6] - Adjusted EBITDA for the quarter was $16.5 million, reflecting a 17% increase quarter over quarter, with adjusted EBITDA margins at approximately 26% [6][7] - Cash and cash equivalents as of March 31, 2025, were $17.3 million, with total liquidity of $53.8 million [11][12] Business Line Data and Key Metrics Changes - Cementing revenue increased by approximately 4% to $57.2 million, with jobs completed rising by approximately 11% [12][13] - Wireline revenue grew by approximately 7% to $29.6 million, with 7,713 wireline stages completed, an increase of approximately 15% [13] - Coiled tubing revenue increased by approximately 16% to $29.9 million, driven by a 36% increase in coiled tubing days [14] Market Data and Key Metrics Changes - The U.S. rig count remained flat in Q1 2025, yet the company achieved revenue growth across all service lines [7] - Pricing across service lines was mostly stable, except for wireline operations in the Northeast, which experienced lower stage pricing due to previous bidding processes [8][9] Company Strategy and Development Direction - The company is focused on market share gains and cost reductions, with a strong emphasis on technology development and maintaining service quality [6][19] - The recent appointment of Joey Hall to the Board of Directors is aimed at enhancing industry expertise within the company [20] Management's Comments on Operating Environment and Future Outlook - Management expressed uncertainty regarding the impact of declining oil prices and increased costs due to tariffs on future activity levels [16][18] - The company anticipates Q2 revenue to decline compared to Q1, projecting between $138 million and $148 million [19] - Management remains optimistic about the long-term outlook for natural gas and its potential positive impact on earnings [17] Other Important Information - The company refinanced its ABL revolving credit facility, increasing liquidity and financial flexibility [10][11] - The average blended revenue per cementing job decreased by approximately 6%, while the average blended revenue per wireline stage decreased by approximately 7% [12][13] Q&A Session Summary Question: Pricing pressures and impacted business lines - Management indicated that pricing pressure is primarily seen in the cementing division, particularly in West Texas, due to tariff impacts and commodity price evaluations [24][25] Question: Oil price guidance and its implications - Management stated it is too early to provide specific guidance on oil prices, emphasizing the importance of market evaluations by customers [31][32] Question: Ability to pass on tariff costs to customers - Management confirmed plans to pass on tariff costs to customers, as the service sector cannot absorb these increases [33][34] Question: Outlook for natural gas markets - Management expressed excitement about the natural gas market, particularly in Haynesville, but confirmed no plans to relocate equipment at this time [36][37] Question: International tool sales and opportunities - Management reported positive performance in international tool sales and highlighted ongoing development of completion tools to meet stringent international requirements [38][39]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $150.5 million, an increase of approximately 6% compared to Q4 2024, and within the guidance range of $146 million to $152 million [5] - Adjusted EBITDA for the quarter was $16.5 million, reflecting a 17% increase quarter over quarter, with incremental adjusted EBITDA margins of approximately 26% [5][6] - Cash and cash equivalents as of March 31, 2025, were $17.3 million, with total liquidity of $53.8 million [11] Business Line Data and Key Metrics Changes - Cementing revenue increased by approximately 4% to $57.2 million, with jobs completed rising by approximately 11% [12][13] - Wireline revenue grew by approximately 7% to $29.6 million, with 7,713 wireline stages completed, an increase of approximately 15% [13] - Coiled tubing revenue increased by approximately 16% to $29.9 million, with utilization significantly higher compared to Q4 [8][14] Market Data and Key Metrics Changes - The U.S. rig count remained flat in Q1, yet the company achieved revenue growth across all service lines [6] - Pricing across service lines was mostly stable, except for wireline operations in the Northeast, which experienced lower stage pricing due to bidding impacts [7] Company Strategy and Development Direction - The company is focused on market share gains and cost reductions, with a strong emphasis on technology development and maintaining service quality [5][19] - The recent appointment of Joey Hall to the Board of Directors is aimed at enhancing industry expertise within the company [20] Management's Comments on Operating Environment and Future Outlook - Management noted uncertainty in the energy industry due to declining oil prices and increased costs from tariffs, impacting customer plans and activity levels [16][18] - The company anticipates Q2 revenue to decline compared to Q1, projecting between $138 million and $148 million [19] - Management remains optimistic about the long-term outlook for natural gas and its potential positive impact on earnings [17] Other Important Information - The company completed a refinancing of its ABL revolving credit facility, increasing liquidity and financial flexibility [9][10] - General and administrative expenses for Q1 were $13.3 million, with a full-year CapEx budget unchanged at $15 million to $25 million [14][15] Q&A Session Summary Question: Pricing pressures and impacted business lines - Management indicated that pricing pressure is primarily seen in the cementing division, largely due to tariffs and commodity price fluctuations [22][23] Question: Oil price guidance - Management stated it is too early to provide specific guidance on oil prices, emphasizing the importance of market conditions and customer evaluations [27][28] Question: Ability to pass on tariff costs - Management confirmed plans to pass tariff costs onto customers, as the service sector cannot absorb these increases [30][31] Question: Natural gas market outlook - Management expressed excitement about the natural gas market and confirmed no plans to relocate equipment at this time [33][34] Question: International tool sales - Management reported positive performance in international tool sales and highlighted ongoing development of completion tools [36]

Company Overview - Nine's Q1 2025 IR Presentation highlights a diversified service line with Completion Tools accounting for 24%, Cementing for 36%, Coiled Tubing and Wireline each contributing 20% to revenue[8] - The company's financials show revenue of $554 million in 2023 and $602 million in 2024, with Q1 2025 revenue reaching $150 million[10,73] - Adjusted EBITDA was $53 million in 2023, $66 million in 2024, and $17 million in Q1 2025[10,73] Strategy and Technology - Nine focuses on an asset-light business model, reducing capital expenditure needs by approximately 60%, from an average of ~$53 million between 2017-2019 to ~$21 million between 2021-2024[13,20] - The company emphasizes technology-based services, with approximately 60% of its business driven by completion tools and cementing[11] - Nine's US Wireline & Completion Tools market share of stage completions ranged from 14% to 21% between 2018 and 2024[23] - The company's US Cementing Market Share has fluctuated between 14% and 19% from 2018 to YE 2024[25] Financial Highlights and Capitalization - Q1 2025 revenue increased by approximately 6% quarter-over-quarter, and Adjusted EBITDA increased by approximately 17% quarter-over-quarter[71] - As of March 31, 2025, Nine had $173 million in cash, $47 million outstanding on its ABL Credit Facility, and $300 million in 2028 Senior Secured Notes, resulting in net debt of $3297 million[75] - A new revolving credit facility with White Oak Commercial Finance provides ~$219 million of incremental covenant-compliant availability and extends the maturity to November 2027, assuming senior secured notes outstanding[77]

Company Performance - Nine Energy Service reported a quarterly loss of $0.18 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.15, representing an earnings surprise of -20% [1] - The company posted revenues of $150.47 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 0.92% and showing an increase from $142.12 million year-over-year [2] - Over the last four quarters, Nine Energy has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Outlook - Nine Energy shares have declined approximately 33% since the beginning of the year, contrasting with the S&P 500's decline of -4.7% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.13 on revenues of $151.8 million, and for the current fiscal year, it is -$0.61 on revenues of $599.8 million [7] - The estimate revisions trend for Nine Energy is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Oil and Gas - Field Services industry, to which Nine Energy belongs, is currently ranked in the bottom 43% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Nine Energy's stock performance [5]

Revenue and Profitability - Revenues increased by $8.3 million, or 6%, to $150.5 million for Q1 2025 compared to Q1 2024, primarily driven by an 18% increase in cementing revenue[92] - Adjusted gross profit rose by approximately $1.9 million to $28.0 million for Q1 2025, reflecting improved revenue and cost management[94] - The company anticipates a decline in revenue and profitability for Q2 2025 due to lower oil prices and reduced activity in the Permian Basin[86] - The loss before income taxes improved by $955,000, or 12%, to $(6.9) million for Q1 2025 compared to $(7.9) million in Q1 2024[91] - The company recorded a net loss of $(7.1) million for Q1 2025, a decrease of $994,000, or 12%, from $(8.1) million in Q1 2024[91] - Net loss decreased by $1.0 million, or 12%, to $7.1 million for Q1 2025, while Adjusted EBITDA increased by $1.5 million, or 10%, to $16.5 million[100] Costs and Expenses - Cost of revenues increased by $6.5 million, or 6%, to $122.5 million for Q1 2025, attributed to higher material and vehicle costs[93] - General and administrative expenses increased by $1.0 million to $13.3 million for Q1 2025, mainly due to higher employee-related costs[94] - Non-operating expenses increased by $0.3 million to $12.6 million for Q1 2025 compared to Q1 2024, primarily due to decreased interest income[98] Cash Flow and Liquidity - Net cash used in operating activities decreased to $5.3 million in Q1 2025 from $8.8 million in Q1 2024, attributed to a $1.9 million increase in cash provided by working capital[134] - Net cash used in investing activities was $4.0 million in Q1 2025, down from $5.5 million in Q1 2024, due to a $1.5 million decrease in cash purchases of property and equipment[135] - Net cash used in financing activities decreased to $1.6 million in Q1 2025 from $6.2 million in Q1 2024, primarily due to $4.0 million in proceeds from the 2018 ABL Credit Facility[136] - As of March 31, 2025, the company had $17.3 million in cash and cash equivalents and $36.5 million available under the 2018 ABL Credit Facility, totaling $53.8 million in liquidity[116] Capital Expenditures and Debt - The planned capital expenditure budget for 2025 is expected to be between $15 million and $25 million, excluding possible acquisitions[114] - The company entered into an equity distribution agreement to sell shares of common stock with an aggregate offering price of up to $30.0 million[119] - The company completed a public offering of 300,000 units with an aggregate stated amount of $300.0 million, consisting of 13.000% Senior Secured Notes due 2028 and common stock[121] - The 2028 Notes will mature on February 1, 2028, with an annual interest rate of 13.000% payable semi-annually starting August 1, 2023[122] - As of March 31, 2025, the company had $47.0 million of borrowings under the 2018 ABL Credit Facility, with approximately $36.5 million available[128] - The 2018 ABL Credit Facility was amended to decrease its size from $200.0 million to $150.0 million and extend the maturity date to January 29, 2027[126] - The 2025 ABL Credit Agreement provides for a revolving credit facility with lender commitments of $125.0 million, maturing on May 1, 2028[129] - The company borrowed approximately $48.9 million under the 2025 ABL Credit Facility to repay all outstanding borrowings under the 2018 ABL Credit Facility[130] - The 2025 ABL Credit Agreement includes a financial covenant requiring a minimum fixed charge ratio of 1.10 to 1.00 when availability is less than $10.0 million[131] - The company was in compliance with all covenants contained in the Amended 2018 ABL Credit Agreement as of March 31, 2025[127] Market Conditions and Outlook - The average rig count in the U.S. was stable at 588 rigs in Q1 2025, compared to 586 rigs in Q4 2024[88] - Natural gas prices averaged approximately $2.19 for 2024 but recovered to about $4.14 in Q1 2025, impacting activity levels in natural gas basins[86] - The company remains cautiously optimistic about the long-term outlook for the energy sector, particularly in natural gas basins, despite current market challenges[89] Performance Metrics - Revenues for Q1 2025 were $150.5 million, up from $142.1 million in Q1 2024, resulting in a gross profit of $19.5 million[112] - Adjusted gross profit for Q1 2025 was $28.0 million, compared to $26.1 million in Q1 2024[112] - Adjusted ROIC for Q1 2025 was 8.8%, an increase from 6.0% in Q1 2024[109] - Total capital as of March 31, 2025, was $259.9 million, compared to $300.3 million as of March 31, 2024[109]

Loan Agreement Terms - The Loan and Security Agreement is dated as of May 1, 2025, among multiple parties including White Oak Commercial Finance, LLC as Agent and Nine Energy Service, Inc. as the Company[8]. - The agreement incorporates various schedules and exhibits that are integral to its terms[8]. - The agreement includes provisions for Protective Advances and conditions for making loans and issuing letters of credit[9]. - The agreement outlines the conditions for repayments and prepayments of loans[9]. - Borrowers are required to pay all reasonable fees, costs, and expenses incurred by Agent and Lenders in connection with the preparation and execution of agreements related to the increase, as specified in Section 10.7[14]. Borrowing and Repayment Conditions - The Maximum Revolving Facility Amount may be increased to $175,000,000, with each Facility Increase being no less than $5,000,000[13]. - All Revolving Loans shall be made in and repayable in Dollars, and any repaid Revolving Loans may be reborrowed[12]. - The Borrowing Agent may request a Facility Increase after November 3, 2025, subject to certain conditions including no existing Default or Event of Default[13]. - Each Lender's Revolving Commitment will be increased consistent with its Pro Rata Share upon a Facility Increase[13]. - The outstanding balance of all Revolving Loans and Letter of Credit Liabilities will not exceed the lesser of the Maximum Revolving Facility Amount minus Reserves or the Borrowing Base[9]. - Borrowers must ensure that Excess Availability is no less than $25,000,000 after the issuance of Loans and Letters of Credit[1]. - Borrowers are required to prepay the unpaid principal balance of the Revolving Loans within three Business Days following any Prepayment Event[36]. - If the outstanding balance of Revolving Loans and Letter of Credit Liabilities exceeds the Line Cap, Borrowers must pay the excess within two Business Days[32]. - All remaining outstanding monetary Obligations must be paid in full on the Maturity Date[34]. - On the Maturity Date, Borrowers must provide cash collateral equal to 103% of the outstanding Letter of Credit Liabilities[34]. Fees and Payments - Borrowers must pay Letter of Credit Fees computed daily from the date of issuance until the last day a drawing is available, at a rate equal to the Applicable Margin for Revolving Loans based on the SOFR Index Rate[22]. - If Agent makes a payment to an LC Issuer, Borrowers must reimburse Agent by the end of the day of such payment or be deemed to have requested a Revolving Loan equal to the payment amount[24]. - Borrowers are required to deposit cash equal to 103% of the aggregate outstanding Letter of Credit Liabilities if they prepay in full or terminate the Revolving Commitments[27]. - Each Lender is deemed to have purchased an undivided interest in Agent's Support Agreement liabilities and Borrowers' Reimbursement Obligations with respect to each Supported Letter of Credit[28]. - Lenders must pay their Pro Rata Share of any payment made by Agent or an LC Issuer if Borrowers have not reimbursed in full, with interest accruing at the Federal Funds Rate for the first three days[29]. - The obligations of Borrowers to reimburse Agent and/or the applicable LC Issuer are absolute and unconditional, regardless of any claims or defenses[25]. Security Interests and Collateral - Each Loan Party grants Agent a continuing security interest in all property, including Accounts, Inventory, and Investment Property, to secure the full payment of Obligations[73]. - Loan Parties must deliver original documents for any Collateral valued over $1,500,000 to Agent within ten Business Days[75]. - Each Loan Party is required to execute any Additional Documents requested by Agent to create and perfect Liens in all assets[77]. - Agent is authorized to file financing statements listing Loan Parties as debtors and Agent as secured party[80]. - The security interest attaches upon the execution of the Agreement, ensuring that value has been given and rights in the Collateral exist[81]. Financial Covenants and Reporting - Each Loan Party has timely filed all tax returns and paid all applicable taxes, with no known assessments that could result in additional taxes due[130]. - All financial statements delivered by any Loan Party conform to GAAP and fairly reflect the financial condition of the Loan Parties[127]. - The fair saleable value of all assets of the Loan Parties exceeds their aggregate liabilities, indicating overall solvency[128]. - Each Loan Party must comply with ERISA and the Code regarding all Plans, ensuring no material liabilities are incurred[138]. - Annual financial statements must be audited and delivered within 90 days after the fiscal year-end, including balance sheets and income statements[146]. - Interim financial statements are to be provided within 30 days after each fiscal month, including comparative figures from the previous year[148]. - Monthly business projections must be submitted 30 days prior to the end of each fiscal year, detailing profit and loss, balance sheet, and cash flow projections[153]. Events of Default - The occurrence of any warranty, representation, or statement made to the Agent or any Lender that is untrue or misleading in any material respect constitutes an "Event of Default"[196]. - A Loan Party failing to pay any principal or interest payment when due, or any other monetary obligation within three business days of when due, is considered an Event of Default[196]. - If any Loan Party suffers final non-appealable judgments exceeding $1,000,000, it triggers an Event of Default if enforcement proceedings are commenced[197]. - A default with respect to any Indebtedness exceeding $5,000,000, if it consists of failure to pay when due, is classified as an Event of Default[197]. - The appointment of a receiver or similar official for any Loan Party, or its admission of inability to pay debts, constitutes an Event of Default[198]. - The commencement of an involuntary case against any Loan Party seeking liquidation or reorganization that remains undischarged for sixty days is an Event of Default[198]. - If any Loan Party makes payments on subordinated Indebtedness contrary to contractual provisions, it is an Event of Default[199]. - The actual or attempted revocation of any guaranty of the Obligations by any Loan Party is classified as an Event of Default[199]. - If any Lien created by a Loan Document ceases to be a valid perfected first priority Lien on material collateral, it constitutes an Event of Default[200]. - Any Loan Document ceasing to be in full force and effect, except by discharge or written agreement, is considered an Event of Default[200].