Nine Mile Metals Closes Private Placement Financing

Core Viewpoint - Nine Mile Metals Ltd. has successfully completed a non-brokered private placement, raising $160,000 through the issuance of 4,571,429 flow-through units at a price of$0.035 per unit [1][2]. Group 1: Private Placement Details - The private placement consists of flow-through common shares and warrants, with each unit comprising one common share and one warrant, allowing the purchase of a common share at $0.05 for five years [2]. - No related parties participated in the private placement, and no new control persons were created [3]. - Finders and brokers received 320,000 common share purchase warrants and$11,200 in cash for their services in introducing subscribers [7]. Group 2: Use of Proceeds - The net proceeds from the private placement will be used for work programs on the Wedge and California Lake properties, which will qualify as "Canadian Exploration Expenses" under the Income Tax Act (Canada) [8]. Group 3: Company Overview - Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on VMS (Cu, Pb, Zn, Ag, and Au) exploration in the Bathurst Mining Camp, New Brunswick [10]. - The company's primary objective is to explore four VMS projects: Nine Mile Brook, California Lake, Canoe Landing Lake, and Wedge, with a focus on critical minerals for EV and green technologies [10].