Nord Precious Metals Secures $348,800 in First Tranche of Private Placement
Toronto, Ontario -- March 26, 2025 -- NewsGenie -- Nord Precious Metals Mining Inc. (TSX.V: NTH) has completed the first tranche of a non-brokered private placement, raising $348,800 through the issuance of 2,906,666 units at $0.12 each. The company plans to issue an additional 8,333,333 units at the same price, potentially raising up to $1,000,000 in the coming weeks.
Each unit includes one common share and one share purchase warrant, allowing the holder to purchase an additional share at $0.155 for five years, pending TSX Venture Exchange approval. Finder’s fees may be paid upon the next closing, also subject to Exchange approval.
Nord Precious Metals also announced a separate non-brokered private placement of 1,875,000 flow-through units at $0.16 each, raising $300,000. Finder’s fees will be paid in cash and warrants, with the latter exercisable at $0.20 per share for two years.
These flow-through units also consist of one common share and one share purchase warrant, which allows the holder to purchase an additional common share at $0.20 for two years, subject to TSX Venture Exchange approval. All securities are subject to a four-month hold period according to Canadian Securities laws.
Proceeds from the unit private placement will fund exploration at the Castle East Project in Gowganda, Ontario, and cover general working capital. Funds from the flow-through unit placement will specifically support exploration at the Castle East Project.
Nord Precious Metals operates a milling facility in Ontario's Cobalt Camp, integrating silver discovery with strategic metals recovery. The company's Castle property includes the past-producing Castle Mine and the Castle East discovery, which contains 7.56 million ounces of silver in inferred resources. Nord also holds a portfolio of battery metals properties in Northern Quebec, including a 35% stake in Coniagas Battery Metals Inc. and the St. Denis-Sangster lithium project.