Nine Mile Metals Announces 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, New Brunswick, Canada [6] - 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 [6] - 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 [6] Private Placement Details - The company intends to complete a private placement of up to 18,507,143 units at a price of $0.021 per unit, with each unit consisting of one common share and one common share purchase warrant [1] - Up to 7,500,000 units may be sold for cash proceeds of up to$157,500, which will be used for operating expenses, including legal and audit fees and general working capital [2] - The company plans to issue 11,007,143 units for the settlement of Convertible Loans due on December 14, 2024, totaling $231,150 in principal and accrued interest [4] Finder's Commission - Finders may receive a commission of 7% cash and 7% common share purchase warrants for their services in introducing subscribers to the company under the cash portion of the private placement [3] Securities Regulations - The issuance of common shares will not result in a new insider or control person, and the common shares are subject to a hold period under applicable Canadian securities laws expiring four months and one day from the date of issuance [5]