Nine Mile closes $298,680 private placement

Jun 14, 2023

2023-06-14 12:49 ET – News Release

Mr. Charles MaLette reports

NINE MILE METALS ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Nine Mile Metals Ltd. has completed a non-brokered private placement for proceeds of $298,680 from the issuance of 2,986,800 units of its securities at a price of 10 cents per unit. Each unit consists of one common share of the company and one-half of one common share purchase warrant, with each whole warrant entitling the holder thereof to purchase one common share at a price of 15 cents for a period of 24 months.

In consideration for their services in introducing subscribers to the company under the private placement, finders and brokers received 42,000 common share purchase warrants, exercisable to purchase one common share at a price of 15 cents for a period of 24 months. There were no cash commissions paid.

The proceeds from the sale of the units will be used for operating expenses, including legal and audit fees, and general working capital.

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

About Nine Mile Metals Ltd.

Nine Mile is a Canadian public mineral exploration company focused on critical mineral exploration (CME) volcanogenic massive sulphide (copper, lead, zinc, silver and gold) 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 mineral exploration, positioning for the boom in electric vehicles and green technologies requiring copper, silver, lead and zinc with a hedge with gold.

We seek Safe Harbor.

https://ninemilemetals.com/