New Age Metals Inc. (TSXV: NAM) has announced a non-brokered private placement under the Listed Issuer Financing Exemption, targeting gross proceeds of $1,000,000 through the issuance of 5,000,000 units priced at $0.20 each. The financing is intended to advance mineral exploration activities, with a primary focus on Phase II metallurgical process optimisation at the company's flagship River Valley Palladium Project in Ontario. The offering is anticipated to close on or about September 22, 2026, subject to TSX Venture Exchange approval.

Key Points

  • New Age Metals Inc. (TSXV: NAM | OTCQB: NMTLF | FSE: P7J)
  • Non-brokered LIFE private placement of 5,000,000 units at $0.20 per unit for gross proceeds of $1,000,000
  • Each unit includes one common share and one-half warrant; full warrants exercisable at $0.25 for 24 months with an accelerated expiry trigger at $0.45 for 10 consecutive trading days
  • Investors may watch for TSX Venture Exchange approval and the anticipated closing on or about September 22, 2026

Unit Structure and Warrant Terms of the NAM Offering

Each unit issued under the offering comprises one common share and one-half of one share purchase warrant, meaning two units are required to form one whole warrant. Each whole warrant entitles the holder to acquire one additional common share at $0.25 for 24 months following closing. The company retains the option to accelerate warrant expiry to 30 calendar days' notice if its shares trade at or above $0.45 on the TSX Venture Exchange for 10 consecutive trading days during the exercise period. Eligible finders may receive a 7% cash commission and finder's warrants on equivalent terms.

Phase II PLATSOL™ Metallurgical Work at River Valley Takes Centre Stage

Net proceeds from the offering, combined with existing working capital, are earmarked primarily for the Phase II PLATSOL™ metallurgical process optimisation program at the 100%-owned River Valley Palladium Project, located approximately 100 kilometres east of Sudbury, Ontario. Planned testwork at SGS Canada Inc.'s Lakefield facility includes flotation concentrate production, batch PLATSOL™ pressure oxidation testing, palladium, platinum and gold recovery scoping, neutralisation and precipitation testing, and copper solvent extraction scoping, with interim and final technical reporting planned.

First Nations Engagement and Broader Exploration Data Compilation

Alongside metallurgical advancement, the company states it will continue consultation and engagement with First Nations communities to foster mutually respectful relationships related to its exploration programs. The release also outlines plans to compile, digitise, review, and interpret historical and current geological, geochemical, geophysical, drilling, and metallurgical data across its mineral properties, with the goal of improving understanding of existing assets and identifying future exploration targets and priorities over the coming 12-month period.

Offering Availability and Regulatory Conditions

The offering is available in all Canadian provinces except Quebec and in other qualifying jurisdictions, including the United States under applicable exemptions. Units sold under the LIFE exemption will be immediately free-trading under Canadian securities laws, though U.S. subscriber units are subject to additional trading restrictions. Closing remains conditional on receipt of all necessary regulatory approvals, including TSX Venture Exchange consent. The immediate share price impact was not clear from available public information.