Key Highlights
- Nord Precious Metals Mining Inc. plans to raise up to $2 million through a private placement.
- The offering includes 13.3 million units priced at $0.15 each.
- Proceeds will support exploration at the Castle East Project and general operations.
Nord Precious Metals Mining Inc. has announced a non-brokered private placement financing of up to 13,333,333 units, aiming to raise gross proceeds of $2 million, subject to approval from the TSX Venture Exchange.
Each unit is priced at $0.15 and consists of one common share and one share purchase warrant. The warrants allow holders to acquire an additional share at $0.20 for a period of three years from the closing date.
The company also noted that finder’s fees may be paid to eligible parties involved in the financing, pending exchange approval.
Funds to Support Exploration and Working Capital
The proceeds from the financing will primarily be used to advance exploration activities at the company’s Castle East Project located in Gowganda, Ontario, Canada.
In addition to exploration, funds will also be allocated toward general working capital and administrative expenses, supporting ongoing operations.
The financing will be conducted in jurisdictions outside Canada and the United States under applicable regulatory exemptions. As a result, the securities issued are not expected to be subject to a hold period in Canada.
Integrated Operations and Silver-Focused Strategy
Nord Precious Metals Mining Inc. operates TTL Laboratories, a permitted high-grade milling facility in Ontario’s historic Cobalt Camp. The company has built an integrated approach combining silver exploration with metals recovery operations.
Its flagship Castle property spans approximately 63 square kilometres and includes the past-producing Castle Mine, along with the Castle East discovery. Previous drilling at Castle East has outlined an estimated 7.56 million ounces of silver in inferred resources, although the company noted this estimate is considered historical and requires further validation.
Multi-Metal Recovery and Growth Potential
Nord’s strategy focuses on extracting multiple metals from its operations. In addition to silver, the company is targeting critical minerals such as cobalt and nickel, which are essential for battery production.
The company’s Re-2Ox hydrometallurgical process has been validated at pilot scale and is designed to process complex ores while producing battery-grade cobalt sulphate and other metal products.
Beyond Ontario, Nord also holds a diversified portfolio of battery metals assets. This includes an approximately 35% stake in Coniagas Battery Metals Inc. and ownership of the St. Denis-Sangster lithium project near Cochrane, Ontario.
Positioning Within Critical Minerals Supply Chain
With its integrated mining and processing capabilities, Nord Precious Metals Mining Inc. aims to strengthen its role in Ontario’s growing critical minerals sector.
The combination of silver production, battery metal recovery, and established infrastructure positions the company to benefit from increasing demand for materials used in energy storage and electrification technologies.
Read more news on Metals & Mining.
