Nine Mile Metals Announces $388K Private Placement and Debt Settlement Through Unit Offering
Summary
As per the CSE policies, none of the funds raised in the Private Placement will be used for management fees current or owed.In consideration for their services in introducing subscribers to the Company under cash portion of the Private Placement, finders may receive commission of cash and common share purchase warrants, exercisable to purchase one common share at a price of for a period of 5 years.The Company also intends to issue 11,007,143 Units for the settlement of Convertible Loans that were due on December 14, 2024, and applicable interest thereon, for a combined total of principal and accrued interest ofThe issuance of Common Shares will not result in a new insider or control person. The Common Shares, and any Common Shares to be issued on exercise of the Warrants, are subject to a hold period under applicable Canadian securities laws expiring four months and one day from the date of issuance of the Units.About Nine Mile Metals Ltd.:Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on Critical Minerals VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold.This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237938