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NexMetals Welcomes Condire As a New 9.9% Shareholder and Announces Closing of $80 Million Public Offering
Newsfile· 2025-11-17 15:36
Core Points - NexMetals Mining Corp. successfully closed a public offering of units, raising gross proceeds of C$80 million at a price of C$5.70 per unit [1][4] - Condire Investors, LLC became a new shareholder with a 9.9% stake in the company following the offering [3] - The net proceeds will be used for prepayment of a milestone payment under an Asset Purchase Agreement for the Selebi and Selkirk mines, exploration activities in Botswana, and general corporate purposes [4][5] Offering Details - Each unit consists of one common share and one warrant, with warrants allowing the purchase of additional shares at C$8.00 until November 17, 2027 [2] - EdgePoint Investment Group participated in the offering, acquiring 1,578,500 units for approximately C$9 million, increasing their stake to about 17.6% [3] - The offering included a cash commission of 6.0% of gross proceeds, totaling C$4,512,017 [5] Future Plans - The company plans to use the funds to secure title to the Selebi and Selkirk assets and accelerate growth and project derisking [5] - The offering is subject to final approval from the TSX Venture Exchange, with conditional approval for the listing of warrants [7] Insider Participation - Insiders subscribed for a total of 1,695,000 units, which is considered a related party transaction [8] - The company is relying on exemptions from formal valuation and minority shareholder approval requirements due to the participation not exceeding 25% of the company's market capitalization [8]
Mustang Energy Provides Update on Annual General and Special Meeting Materials
Globenewswire· 2025-10-25 00:33
Core Points - Mustang Energy Corp. has announced the details for its upcoming annual general and special meeting scheduled for November 14, 2025, in Vancouver, BC [1] - The meeting will address several key resolutions, including the election of directors and the approval of a plan of arrangement with its subsidiary [4] Meeting Details - The meeting will take place at Suite 2501 – 550 Burrard Street, Vancouver, BC, Canada at 10:00 am PST [1] - Shareholders can access meeting materials online and request copies via email or phone [1][2] Voting Information - Shareholders must complete and return the proxy form by 10:00 A.M. on November 12, 2025, to ensure their votes are counted [3] - Voting can be done online, by mail, or through other specified methods [2][5] Company Overview - Mustang Energy is focused on the exploration and development of uranium and critical mineral assets, holding a portfolio of 147,153 hectares in Saskatchewan's Athabasca Basin [4][6] - The company aims to create long-term value through responsible exploration and targeting high-impact areas [6]
Naughty Ventures Corp. Enters into Strategic Option Agreement with Sorrento Resources to Advance Rare Earth Element Property
Newsfile· 2025-10-16 09:30
Core Viewpoint - Naughty Ventures Corp. has entered into a strategic option agreement with Sorrento Resources to advance the Bottom Brook rare earth element property, allowing Naughty Ventures to unlock value while becoming a significant shareholder of Sorrento [1][2][3] Agreement Details - The option agreement allows Sorrento to acquire up to 100% of Naughty Ventures' interest in the Bottom Brook Property, with the option exercisable within three years [4][8] - Sorrento is responsible for all exploration activities on the property during the term of the agreement [8] - The agreement includes specific cash payments and share issuances over the three-year period, with a total of CAD 1,000,000 due within 12 months, CAD 1,500,000 within 24 months, and additional share issuances [6][7] Financial Implications - Naughty Ventures will receive 13 million Sorrento shares upon closing, representing a 49% interest, and will maintain a 20% free carried interest until Sorrento fulfills the final interest option [6][7] - A finder's fee of 10% on cash payments and share issuances is payable to Kluane Capital FZCO [9] Company Background - Naughty Ventures Corp. focuses on acquiring and developing mineral assets with strong value potential and holds interests in various projects, including the Bottom Brook rare earth property [10] - Sorrento Resources Ltd. is engaged in the acquisition and exploration of mineral properties in Canada, with a focus on precious and base metals [11]
Mustang Energy Corp. Makes Final Preparations for Surprise Creek Drilling Project, Saskatchewan
Globenewswire· 2025-09-26 23:00
Core Viewpoint - Mustang Energy Corp. is preparing to commence its first drilling campaign at the Surprise Creek Uranium-Copper Project, which is set to begin on September 28, 2025, marking a significant milestone for the company in its strategy to develop critical mineral assets [1][4]. Project Overview - The Surprise Creek Project is located 25 km northwest of the Beaverlodge Uranium District and near the Athabasca Basin, known for its historical uranium mines [5]. - The project has an option agreement with Thunderbird Resources Ltd. to acquire an 80% interest [2]. Drilling Program Details - The drilling program will be helicopter-supported and based out of Uranium City, Saskatchewan, with Base Diamond Drilling Ltd. as the contractor [3]. - Up to 2,000 meters of drilling is planned in the Surprise Creek Fault area, which has shown high-grade uranium surface samples, with historical drilling results indicating up to 2.1 meters of 4.37% U3O8 from 57 meters [3][8]. - The program aims to follow up on historic drill intercepts, understand mineralization-hosting structures, and test previously un-drilled zones [3]. Historical Findings - Historical drilling has revealed significant copper prospects, with results including 9.1 meters at 2.07% Cu and 27.3 g/t Ag from surface at Bob Lake, and 6.6 meters at 1.31% Cu from 11 meters at Ellis Bay [9]. - Surface sampling by Thunderbird has returned assays of up to 7.98% U3O8 and rock chip sampling has shown copper grades as high as 61.7% Cu [8][9]. Regulatory Approvals - A work permit application for exploration, including drilling at the Surprise Creek Fault prospect, has been approved by the Saskatchewan Government [10].