- Nine Mile Metals (NINE) has completed the second tranche of a $1.2M private placement
- Under the second tranche, the company issued 1,875,000 flow-through units at a price of $0.32 per unit for total proceeds of $771,000
- The company intends to use the proceeds raised for the exploration of the company’s mineral properties
- Nine Mile Metals Ltd. is a Canadian mineral exploration company focused on VMS exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada
- Nine Mile Metals Ltd. opened trading at $0.28
Nine Mile Metals (NINE) has completed the second tranche of a $1.2M private placement.
Under the second tranche, the company issued 1,875,000 flow-through units at a price of $0.32 per unit for total proceeds of $771,000.
Each unit consists of one flow-through common share of the company and one-half of one common share purchase warrant.
Each warrant entitles the holder to purchase one common share at a price of $0.45 for a period of 24 months.
In consideration for their services in introducing subscribers to the company under the private placement, finders received 112,500 common share purchase warrants, exercisable to purchase one common share at a price of $0.45 for a period of 24 months and cash of $36,000.
The company intends to use the proceeds raised for the exploration of the company’s mineral properties.
All securities issued are subject to a statutory four-month hold period.
Nine Mile Metals Ltd. is a Canadian mineral exploration company focused on VMS exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada.
Nine Mile Metals Ltd. opened trading at $0.28.