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Nord Precious Metals Announces Amendment to Its Non-Brokered LIFE Financing
Newsfileยท 2025-10-03 00:27
Core Viewpoint - Nord Precious Metals Mining Inc. is amending its Listed Issuer Financing Exemption (LIFE) Offering Document to raise a total of $4,000,000 through the issuance of units priced at $0.12 per share, with a focus on enhancing its silver resource and tailings processing capabilities [1][2][4]. Financing Details - The Company will raise 13,056,041 units at $0.12 per share for gross proceeds of $1,566,724 through the LIFE Offering Document [2] - Additionally, a non-brokered private placement will be conducted for up to 20,277,292 units at the same price, aiming for gross proceeds of $2,433,275 [2] - Each unit consists of one common share and one warrant, with the warrant allowing the purchase of an additional common share at $0.155 for five years [3] Use of Proceeds - The net proceeds will be allocated to testing tailings recovery, pilot scale testing of the Re-2Ox process, and diamond drilling on the Castle East Property to update the resource estimate [5][9] - Specific objectives include advancing resource work, submitting Recovery Permit materials, and progressing the Re-2Ox process from bench to pilot [9] Regulatory and Advisory Aspects - The Offering is expected to close around October 9, 2025, subject to regulatory approvals [7] - Research Capital Corporation is acting as the exclusive finder for the Offering and will receive an 8% cash commission along with finder's warrants [8][10] Company Overview - Nord Precious Metals Mining Inc. operates a high-grade milling facility in Ontario and focuses on silver discovery and strategic metals recovery [12] - The Castle property has delineated 7.56 million ounces of silver in inferred resources, averaging 8,582 g/t Ag [12] - The Company employs a multi-metal approach to leverage the value of silver and critical minerals, including cobalt and nickel, through its proprietary Re-2Ox process [13] Strategic Assets - The Company holds a strategic portfolio of battery metals properties in Northern Quebec, including a 35% stake in Coniagas Battery Metals Inc. and the St. Denis-Sangster lithium project [14]