Nord Precious Metals Mining Inc. (TSXV: NTH) (OTCQB: NPMMF) (FSE: QN3) has closed a non-brokered critical mineral flow-through share private placement, raising gross proceeds of $1,600,000. The financing involved the issuance of 8,888,888 flow-through shares at $0.18 per share, with proceeds directed toward exploration at the company's Castle East Project in Ontario. The placement qualifies as flow-through critical mineral mining expenditures under the Income Tax Act (Canada), offering a potential tax advantage to eligible investors.

Key Points

  • Nord Precious Metals Mining Inc. (TSXV: NTH) (OTCQB: NPMMF) (FSE: QN3)
  • Closed a non-brokered flow-through private placement issuing 8,888,888 shares at $0.18 per share for gross proceeds of $1,600,000
  • All securities are subject to a four-month and a day hold period expiring February 8, 2027; finder's fees of 7% cash ($112,000) and 622,222 warrants exercisable at $0.18 for two years are subject to Exchange approval
  • Investors may be watching how proceeds are deployed across the Castle East Project's exploration programme

Flow-Through Structure and Finder's Fees Under Exchange Review

The placement is subject to final TSX Venture Exchange acceptance, as the release states. Nord agreed to pay finder's fees totalling 7% in cash ($112,000) and 7% in non-transferable finder warrants (622,222 warrants), each exercisable at $0.18 per share for two years from closing. These finder's fees are also subject to Exchange approval. All securities issued in connection with the flow-through shares, finder warrants, and finder warrant shares carry a four-month and a day hold period expiring February 8, 2027, in accordance with applicable Canadian securities laws.

Castle East Project to Receive Exploration Funding

Nord intends to deploy the gross proceeds toward exploration at its Castle East Project, with expenditures structured to qualify as "Canadian exploration expenses" and "flow-through critical mineral mining expenditures" as defined under the Income Tax Act (Canada). The Castle East Project forms part of the company's 63 sq. km Castle property, which includes 225 hectares of leases and hosts several past-producing silver mines. The release notes the company continues to evaluate Castle East drilling results alongside an exploration-stage open-pit concept described in its August 31, 2026 update.

Nord's Silver Recovery Strategy and Ontario Processing Infrastructure

Nord's broader strategy centres on silver recovery and exploration within Ontario's historic Cobalt-Gowganda mining camp. The company owns TTL Laboratories in Cobalt, described in the release as the only permitted high-grade milling facility in the historic Cobalt Camp, offering assay, bulk-sampling, silver processing, and silver doré pouring capabilities. Nord states it intends to expand TTL's regional processing role through technical work, commercial arrangements, and environmental approvals. The company is also pursuing metal-recovery opportunities involving the Re-2Ox hydrometallurgical process, though financial details were not disclosed in the announcement.