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Nord Precious Metals Closes First Tranche of Critical Mineral Flow-Through Unit Non-Brokered Private Placement
Thenewswire· 2025-12-19 22:50
Core Viewpoint - Nord Precious Metals Mining Inc. has successfully closed the first tranche of a non-brokered flow-through unit private placement financing, raising gross proceeds of $2,206,500 by issuing 8,826,000 units at a price of $0.25 per unit, with plans to issue an additional 7,174,000 units for up to $1,793,500 before the end of 2025, pending final acceptance from the TSX Venture Exchange [1][7]. Financing Details - Each flow-through unit consists of one common share and one half of a share purchase warrant, with each whole warrant allowing the purchase of an additional share at $0.28 for two years from closing [2]. - An acceleration clause in the warrants allows for early expiration if the daily volume weighted average trading price exceeds $0.36 for ten consecutive trading days [3]. - The company will pay an engagement fee of $25,000 and issue 100,000 common shares to Research Capital Corporation as part of the financing arrangement [4]. - The company will also issue non-transferable warrants to the finder, allowing the purchase of up to 706,080 common shares at $0.25 per share, along with a cash payment of $202,770 [5]. Use of Proceeds - The gross proceeds from the private placement will be allocated for exploration on the Castle East Project, qualifying as "flow-through critical mineral mining expenditures" under Canadian tax law [7]. Company Overview - Nord Precious Metals Mining Inc. operates the only permitted high-grade milling facility in Ontario's historic Cobalt Camp, focusing on high-grade silver and strategic metals recovery [9]. - 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, averaging 8,582 g/t Ag [9]. - The company employs an integrated processing strategy that enhances the recovery of multiple metals, including cobalt and nickel, to meet the growing demand for battery materials [10]. - Nord maintains a strategic portfolio of battery metals properties, including a 35% ownership in Coniagas Battery Metals Inc. and the St. Denis-Sangster lithium project [11].
TomaGold Announces Closing of the First Tranche of Its Private Placement
Businesswire· 2025-11-21 22:19
Core Points - TomaGold Corporation has successfully closed the first tranche of its non-brokered private placement, raising total proceeds of $1,105,000 through the issuance of 19,300,000 flow-through shares at $0.05 each and 3,500,000 units at $0.04 each [1][3] - The proceeds from the sale of units will primarily be used for general corporate working capital, while the gross proceeds from flow-through shares will be allocated to eligible Canadian exploration expenses [3] - An insider purchased 750,000 units for $30,000, which is considered a related party transaction but is exempt from certain formal requirements due to the market capitalization conditions [4] Financial Details - The first tranche includes 19,300,000 common shares and 3,500,000 units, with each unit consisting of one common share and one-half of a share purchase warrant, exercisable at $0.08 for 24 months [1] - TomaGold paid $56,000 in cash finder's fees and issued 1,120,000 finder's compensation warrants, each allowing the purchase of one share at $0.08 for 24 months [2] Regulatory and Compliance - All securities issued are subject to a statutory hold period of 4 months and a day from issuance [3] - The closing of the private placement is pending final approval from the TSX Venture Exchange [5] Company Overview - TomaGold Corp. is a Canadian junior mining company focused on acquiring, exploring, and developing precious and base metal projects, primarily in Quebec and Ontario [8] - The company's key assets include the Obalski gold-copper-silver project and options to acquire 12 additional properties in the Chibougamau Mining Camp [8]