Nord Precious closes $348,800 first tranche financing

Mar 27, 2025

2025-03-26 19:39 ET – News Release

 

Mr. Frank Basa reports

NORD PRECIOUS METALS CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT AND ANNOUNCES ADDITIONAL PRIVATE PLACEMENTS

Nord Precious Metals Mining Inc. has closed the first tranche of a non brokered private placement financing by issuing 2,906,666 units at a price of 12 cents per unit raising gross proceeds of $348,800.

The company also announces that it plans to issue up to an additional 8,333,333 units at a price of 12 cents per unit raising gross proceeds of up to $1-million in the coming weeks.

Each unit comprised one common share of the company and one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share of the company at an exercise price of 15.5 cents per share, for a period of five years from closing, subject to TSX Venture Exchange final approval. Finders’ fees may be paid in the next closing and are also subject to exchange approval.

The company further announces a non-brokered private placement financing of 1,875,000 flow-through units at a price of 16 cents per FT unit raising gross proceeds of $300,000. Finders’ fees will be paid in cash and warrants in connection with the FT private placement. The finder warrants are at an exercise price of 20 cents per share for a period of two years from closing.

Each FT unit comprised one common share of the company and one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share of the company at an exercise price of 20 cents per share, for a period of two years from closing, subject to TSX Venture Exchange approval.

All securities issued in connection with the units and the FT units are subject to a four-month-and-a-day hold period in accordance with applicable Canadian Securities laws.

The proceeds of the unit private placement will be used for exploration on its Castle East project, Gowganda, Ont., and for general working capital and administrative costs. Proceeds from the FT unit private placement will be used for exploration on its Castle East project, Gowganda, Ont.

About Nord Precious Metals Mining Inc.

Nord Precious Metals Mining operates the only permitted high-grade milling facility in the historic Cobalt camp of Ontario, where the company has established a unique position integrating high-grade silver discovery with strategic metals recovery operations. The company’s flagship Castle property encompasses 63 square kilometres of exploration ground and the past-producing Castle mine, complemented by the Castle East discovery where drilling has delineated 7.56 million ounces of silver in inferred resources grading an average of 8,582 grams per tonne Ag (silver) (250.2 ounces/ton).

Nord’s integrated processing strategy leverages the synergistic value of multiple metals. High-grade silver recovery supports the economics of extracting critical minerals including cobalt, nickel and other battery metals, while the company’s proprietary Re-2Ox hydrometallurgical process enables production of technical-grade cobalt sulphate and nickel-manganese-cobalt (NMC) formulations. This multimetal approach, combined with established infrastructure including TTL Laboratories and underground mine access, positions Nord to capitalize on both precious metals markets and the growing demand for battery materials.

The company maintains a strategic portfolio of battery metals properties in Northern Quebec including its 35-per-cent ownership in Coniagas Battery Metals Inc., as well as the St. Denis-Sangster lithium project comprising 260 square kilometres of prospective ground near Cochrane, Ont.

We seek Safe Harbor.

https://www.nordpreciousmetals.com/

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