Nine Mile Metals Announces Non-Brokered Private Placement

Company Overview - 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 Bathurst Mining Camp (BMC), New Brunswick, Canada [5] - The company's primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, Canoe Landing Lake (East - West) VMS Project, and Wedge VMS Project [5] - The company is positioning itself for the boom in electric vehicle (EV) and green technologies that require Copper, Silver, Lead, and Zinc, while also having a hedge on Gold [5] Private Placement Details - The company intends to complete a non-brokered private placement offering to raise up to $300,000 through the issuance of up to 8,571,428 flow-through units (FT Units) at a price of $0.035 per FT Unit [1][2] - Each FT Unit will consist of one flow-through common share and one common share purchase warrant, with each warrant allowing the holder to purchase one common share at a price of $0.05 for five years from the date of issuance [2] - The company may pay finder's fees of up to 7% of subscription amounts, payable in cash, and issue finder's warrants in an amount up to 7% of securities sold, with each finder's warrant exercisable to acquire one common share at a price of $0.035 for five years from the date of issuance [3] Use of Proceeds - Proceeds from the sale of the FT Units will be used for exploration costs, including drilling, splitting core samples, assays, and surveys [3] Securities Regulation - The common shares and any common shares issued on the exercise of the warrants and finder's warrants will be subject to a hold period under applicable Canadian securities laws, expiring four months and one day from the date of issuance [4]