New Age Metals Inc. (TSXV: NAM | OTCQB: NMTLF | FSE: P7J) has closed a non-brokered private placement under the Listed Issuer Financing Exemption, raising gross proceeds of $1,000,000 through the issuance of 5,000,000 units priced at $0.20 per unit. The financing adds to the company's treasury as it advances a diversified portfolio of critical and precious metals projects across Canada and Alaska. Because the offering was completed under the LIFE exemption, the shares, warrants, and warrant shares are free trading, a feature investors may view favourably.

Key Points

  • New Age Metals Inc. (TSXV: NAM | OTCQB: NMTLF | FSE: P7J) is a Canadian junior mineral exploration and development company.
  • The company closed a non-brokered private placement, raising $1,000,000 gross proceeds from 5,000,000 units at $0.20 per unit.
  • Each unit includes one common share and one half of one warrant; full warrants are exercisable at $0.25 per share until September 16, 2028, subject to an accelerated expiry clause.
  • Investors will be watching for final TSX Venture Exchange approval of the offering and deployment of proceeds across NAM's project portfolio.

Unit Structure and Warrant Acceleration Terms

Each of the 5,000,000 units issued consists of one common share and one half of one share purchase warrant, meaning holders receive 2,500,000 whole warrants in aggregate. Each whole warrant entitles the holder to acquire one additional common share at $0.25 until September 16, 2028. An accelerated expiry provision applies: if NAM's shares trade at or above $0.45 for 10 consecutive trading days, the company may, at its option, compress the warrant expiry to 30 calendar days from the date written notice is issued.

Finder Fees Paid to Ventum Financial Corp.

In connection with the closing, New Age Metals paid $70,000 in cash and issued 350,000 finder's warrants to Ventum Financial Corp. Each finder's warrant allows the holder to purchase one common share at $0.25 until September 16, 2028, subject to the same accelerated expiry conditions as the offering warrants. The finder's warrants carry a regulatory hold period expiring January 17, 2027, in accordance with applicable securities laws. The offering remains subject to final TSX Venture Exchange approval, the release states.

NAM's Flagship River Valley Project and Critical Metals Portfolio

New Age Metals describes its flagship asset as the 100%-owned River Valley Palladium and Platinum Project in Ontario, located approximately 100 kilometres east of Sudbury and supported by a 2023 Preliminary Economic Assessment. The company also holds exploration assets spanning a Manitoba Lithium Division, a Newfoundland Gold–Antimony Division, a Kenora Gold and Critical Metals Division, a Ring of Fire Division, a Thunder Bay PGM Division, and the Genesis PGM–Cu–Ni Project in Alaska, operated through a project-generator model.