Nord Precious Metals Closes First Tranche of Non-Brokered Private Placement and Announces Additional Private Placements

Core Viewpoint - Nord Precious Metals Mining Inc. has successfully closed the first tranche of a non-brokered private placement financing, raising gross proceeds of $180,400 and plans to raise an additional $1,319,600 in the coming weeks through further issuance of units at the same price [1][4]. Financing Details - The first tranche involved the issuance of 1,503,333 units at a price of $0.12 per unit [1]. - The company plans to issue up to 10,996,667 additional units at the same price, potentially raising up to $1,319,600 [1]. - Finder's fees of $1,428 cash and 11,900 non-transferable finder warrants were paid in connection with the first tranche [2]. - Each unit consists of one common share and one share purchase warrant, with warrants exercisable at $0.155 per share for five years [3]. Flow-Through Units - The company announced a separate financing of 7,142,857 flow-through units at a price of $0.14 per unit, aiming to raise $1,000,000 [4]. - Finder's fees for this financing will be 7% cash and 7% in finder warrants, with warrants exercisable at $0.20 per share for two years [4][5]. Use of Proceeds - Proceeds from the unit private placement will be allocated for exploration on the Castle East Project in Gowganda, Ontario, as well as for general working capital and administrative costs [6]. - Funds from the flow-through unit private placement will also be directed towards exploration on the Castle East Project [6]. Company Overview - Nord Precious Metals Mining Inc. operates the only permitted high-grade milling facility in the historic Cobalt Camp of Ontario, focusing on high-grade silver discovery and strategic metals recovery [8]. - The company's flagship Castle property includes 63 square kilometers of exploration ground and has delineated 7.56 million ounces of silver in inferred resources with an average grade of 8,582 g/t Ag [8]. - The integrated processing strategy allows for the recovery of multiple metals, including cobalt and nickel, supporting the growing demand for battery materials [9]. Strategic Assets - The company holds a strategic portfolio of battery metals properties in Northern Quebec, including a 35% ownership in Coniagas Battery Metals Inc. and the St. Denis-Sangster lithium project [10].