Norsemont closes $350,000 warrant financing

Oct 3, 2025

2025-10-03 06:09 ET – News Release

Mr. Marc Levy reports

NORSEMONT ANNOUNCES CLOSING OF WARRANT FINANCING FROM STRATEGIC INVESTORS

Further to the Sept. 26, 2025, news release, Norsemont Mining Inc. has closed a non-brokered private placement of 3.5 million share purchase warrants of the company at an issue price of 10 cents per warrant for gross proceeds of $350,000. Each warrant has an exercise price of 59 cents per warrant (which, upon exercise, will result in a total cost of 69 cents per common share). If all warrants issued in the offering are duly exercised by holders, it will result in an additional $2,065,000 in proceeds being raised by the company.

Each warrant entitles the holder to purchase one common share in the capital of the company at a price of 59 cents per share for a period of five years from the closing of the offering, provided that, if the shares have a closing price on the Canadian Securities Exchange (or such other securities exchange on which the shares may be traded at such time) of $1 or greater per share for a period of 10 consecutive trading days at any time after four months and one day from the closing, then the company may accelerate the expiry of any outstanding warrants by giving notice to the holders thereof (by disseminating a news release advising of the acceleration of the expiry date of the warrants), and, in such case, the warrants will expire on the 10th business day after the date of such notice.

The proceeds of the offering are anticipated to be used for general working capital purposes and mineral exploration of the Choquelimpie gold-silver-copper project.

More information regarding the offering is available in the company’s Form 9 posted under the company’s profile on the Canadian Securities Exchange website. All warrants, and any shares issued on the due exercise of the warrants, are subject to a restricted period of four months and one day from closing of the offering.

About Norsemont Mining Inc.

The Norsemont team comprises experienced natural resource professionals focused on increasing shareholder value and developing its flagship project through to bankable feasibility, with an initial mineral resource estimate of 2,184,000 indicated gold equivalent ounces and 557,000 inferred gold equivalent ounces for its Choquelimpie gold-silver-copper project. Norsemont Mining owns a 100-per-cent interest in the Choquelimpie gold-silver-copper project in northern Chile, a previously permitted gold and silver mine with significant exploration upside. Choquelimpie has over 1,700 drill holes, with significant existing infrastructure, including roads, power, water, camp and a 3,000-tonne-per-day mill. Norsemont is committed to responsible and sustainable resource development, leveraging modern exploration techniques to unlock further value for all stakeholders.

We seek Safe Harbor.

https://norsemont.com/