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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.

Finders participating in the FT placement may receive an 8 percent cash commission and 8 percent in common share purchase warrants, exercisable at CAD0.05 for 36 months.

The NFT portion will offer up to 10,000,000 units at CAD0.015 per unit, for proceeds up to CAD150,000. Each NFT unit will consist of one common share and one-half of a warrant. A full NFT warrant will allow the holder to acquire one common share at CAD0.05 for 36 months. The proceeds are expected to support operating expenses and general working capital.

Finders in the NFT placement may also receive 8 percent cash and 8 percent in purchase warrants, with these warrants exercisable for 24 months at the same CAD0.05 strike price.

All securities issued under the private placement will be subject to a hold period of four months and one day.

Nine Mile Metals Ltd. is a Canadian exploration company focused on VMS (copper, lead, zinc, silver, and gold) assets in New Brunswick’s Bathurst Mining Camp. Its primary projects include Nine Mile Brook, California Lake, Canoe Landing Lake (East – West), and Wedge. The company’s strategy aligns with the growing demand for critical minerals used in electric vehicles and green technologies.