Source: Nine Mile Metals Ltd.
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  • Nine Mile Metals (NINE) has closed a $1,271,000 private placement
  • Under the final tranche, the company issued 1,562,500 flow-through units for proceeds of $500,000
  • Nine Mile Metals Ltd. is a Canadian mineral exploration company
  • Nine Mile Metals (NINE) opened trading at C$0.34

Nine Mile Metals (NINE) has closed its previously-announced $1,271,000 private placement.

Under the final tranche, the company issued 1,562,500 flow-through units at a price of $0.32 per unit, for proceeds of $500,000.

Each unit consists of one flow-through common share and one-half of one common share purchase warrantEach warrant entitling the holder thereof to purchase one common share at a price of $0.45 for a period of 24 months.

Eligible finders received 109,375 common share purchase warrants, exercisable to purchase one common share at a price of $0.45 for a period of 24 months and cash of $35,000.

The proceeds raised will be used for exploration on the company’s mineral properties.

All securities issued are subject to a statutory four month hold period.

Nine Mile Metals Ltd. is a Canadian mineral exploration company focused on VMS (Cu, Pb, Zn, Ag and Au) 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 the Canoe Landing Lake (East – West) VMS Project. The company is focused on Critical Minerals Exploration (CME), positioning nine Mile Metals for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc including a hedge with Gold.

Nine Mile Metals (NINE) opened trading at C$0.34.


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