Nine Mile arranges $250,000 private placement

Jun 1, 2023

2023-06-01 01:59 ET – News Release

Mr. Charles MaLette reports

NINE MILE METALS PRIVATE PLACEMENT FINANCING

Nine Mile Metals Ltd. intends to complete a private placement for proceeds of up to $250,000.

The Private Placement will consist of the sale of up to 2,500,000 units (each a “Unit”) at a price of $0.10 per Unit. Each Unit will be comprised of one common share (a “Common Share”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”), with each Warrant entitling the holder thereof to acquire one Common Share in the capital of the Company at a price of $0.15 per Common Share for a period of 24 months from the date of issuance.

In consideration for their services in introducing subscribers to the Company under the Private Placement, finders may receive commission of 7% cash and 7% common share purchase warrants, exercisable to purchase one common share at a price of $0.15 for a period of 24 months.

The Company intends to use the proceeds for operating expenses, including legal and audit fees and general working capital.

All securities issued in the private placement will be subject to a four month and a day hold period.

About Nine Mile Metals Ltd.

Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration (CME) VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East-West) VMS and the new Wedge VMS Projects. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold.

We seek Safe Harbor.

https://ninemilemetals.com/