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Image source: © 2025 Krish Capital Pty.Ltd
Highlights
• Flow-through portion targets up to CAD250,000 for drilling and exploration
• Non-flow-through portion aims to raise CAD150,000 for operations and working capital
• Warrants exercisable at CAD0.05 per share for a 36-month period
Nine Mile Metals Ltd. (CSE: NINE) has announced its intention to conduct a private placement financing of up to CAD400,000 through a combination of flow-through (FT) and non-flow-through (NFT) offerings. The proposed financing supports both exploration activities and general operating needs.
The FT private placement will consist of up to 12,500,000 units priced at CAD0.02 each, targeting gross proceeds of up to CAD250,000. Each unit will include one common share and one warrant, with each warrant exercisable at CAD0.05 for a period of 36 months from issuance. Proceeds from this segment will be allocated to exploration and drilling at the Wedge Project and the California Lake East VMS Trend, including Target #6, as part of the NBJMAP Grant project.
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