Nine Mile Metals (NINE-Cse) Closes Final Tranche Of $1,271,000 Private Placement
Dec 19, '22 - NR
Nine Mile Metals Ltd. has completed a $1,271,000 private placement. The company closed the final tranche and issued 1,562,500 flow-through units at a price of 32 cents per unit for proceeds of $500,000.
Each unit consists of one flow-through common share of the company and one-half of one common share purchase warrant, with each warrant entitling the holder thereof to purchase one common share at a price of 45 cents for a period of 24 months.
In consideration for their services in introducing subscribers to the company under the private placement, finders received 109,375 common share purchase warrants, exercisable to purchase one common share at a price of 45 cents for a period of 24 months and cash of $35,000.
The proceeds raised through the private placements will be used for exploration on the company's mineral properties.
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 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 three VMS projects: Nine Mile Brook VMS project; California Lake VMS project; and Canoe Landing Lake (East-West) VMS project. The company is focused on exploration of minerals for technology (MFT), positioning for the boom in electric vehicle and green technologies requiring copper, silver, lead and zinc with a hedge with gold.
ON BEHALF OF NINE MILE METALS LTD.
“Charles MaLette”
President and Director
T: 604-428-5171
E: info@ninemilemetals.com |
