First Nordic Metals to Acquire EMX's Nordic Business Unit TORONTO ,
First Nordic Metals to Acquire EMX's Nordic
Business Unit
TORONTO
,
June 2, 2025
/CNW/ -
First Nordic Metals Corp.
("
First Nordic
" or the "
Company
")
(TSXV: FNM) (FNSE: FNMC SDB) (OTCQB: FNMCF) (FRA: HEG0) is pleased to announce the
acquisition of the Nordic business unit ("NBU Acquisition") of EMX Royalty Corporation ("EMX"), a
long-standing technical partner on several of First Nordic's key assets.
This NBU Acquisition includes EMX's regional infrastructure in northern
Sweden
(including an
exploration camp), an extensive inventory of exploration equipment, and the full integration of EMX's
seasoned Nordic technical team; this consolidates the operational platform that has played a pivotal
role in advancing First Nordic's exploration activities across
Sweden
and
Finland
.
Taj Singh
, First Nordic CEO comments:
"With nearly 100,000 hectares (~100 km of strike
length) under control in
Sweden's
highly prospective Gold Line belt, our 2025 exploration
programs have already yielded encouraging results. This strategic acquisition strengthens our
operational footprint, integrates top-tier regional expertise, and reaffirms our long-term
commitment to unlocking the potential of
Europe's
most exciting gold frontier."
Strategic Benefits & Key Highlights
The acquisition further deepens First Nordic's capabilities and enhances project continuity. It
supports the Company's commitment to long-term growth, operational efficiency, and community
engagement in the Nordics. Key benefits include:
Highly experienced Nordic team:
Proven track record in geological evaluation, permitting, and
logistics across the region.
A dedicated operational hub:
An upgraded year-round exploration camp in Malå,
Sweden
,
located near the Geological Survey of
Sweden's
drill core repository.
Comprehensive exploration asset package:
Includes vehicles, handheld and robotic XRF (x-ray
fluorescence) units, ground magnetometers, mobile core logging infrastructure, and modern
digital tools for data acquisition and interpretation.
Transaction Terms
Under the terms of the agreement signed on
May 30, 2025
, First Nordic will acquire the EMX Nordic
business unit and related assets for a total consideration of
3.25 million SEK
(~US$335,000)
,
payable over two years in equal parts cash and First Nordic common shares, structured as follows:
1.05 million SEK
(~US$108,000)
paid upon closing.
1.20 million SEK
(~US$124,000)
paid on the first anniversary of the agreement
1.00 million SEK
(~US$103,000)
paid on the second anniversary of the agreement.
EMX will retain a 1% net smelter return (NSR) royalty on any new projects organically generated
(i.e. newly staked) by First Nordic in
Sweden
and
Finland
within five years.
The structure allows First Nordic to expand operations with minimal upfront capital while maintaining
full strategic and operational control.
As per TSX Venture Exchange (the "TSXV") policies, the NBU Acquisition constitutes a non-arm's
length transaction due to a shared director (H. Lundin). The transaction remains subject to TSXV
approval. All shares issued will be subject to a statutory four month and one day hold in accordance
with applicable Canadian securities laws. No finder's fees are payable in connection with the
transaction.
ABOUT FIRST NORDIC METALS
First Nordic Metals Corp. is a Canadian-based gold exploration company, consolidating assets in
Sweden
and
Finland
, with a vision to create
Europe's
next gold camp. The Company's flagship asset
is the Barsele gold project in northern
Sweden
, a joint venture project with senior gold producer
Agnico Eagle Mines Limited. Immediately surrounding the Barsele project, FNM is 100%-owner of a
district-scale license position comprised of two additional projects (Paubäcken, Storjuktan), which
combined with Barsele, total approximately 100,000 hectares on the Gold Line greenstone belt.
Additionally, in northern
Finland
, FNM is the 100%-owner of a district-scale position covering the
entire underexplored Oijärvi greenstone belt, including the Kylmäkangas deposit, the largest known
gold occurrence on this belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Taj Singh
, M.Eng, P.Eng, CPA
CEO & Director
For further information contact:
Marie Macdonald, Investor Relations, 604-687-8566,
Follow First Nordic Metals:
Twitter:
@fnmetals
Youtube:
@firstnordicmetalscorp
LinkedIn:
@firstnordicmetals
Facebook:
@FirstNordicMetals
Instagram:
@firstnordicmetals
The information in this release is subject to the disclosure requirements of First Nordic pursuant to
the EU Market Abuse Regulations. The Company's certified adviser on the Nasdaq First North
Growth Market is Augment Partners AB,
, +46 8-604 22 55. This information was
submitted for publication, through the agency of the contact person set out above, on
June 2, 2025
,
at
7:00 a.m. Eastern Time
.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release
.
Forward-Looking Statements
This news release contains forward-looking statements that reflect the Company's intentions,
beliefs, or current expectations about and targets for the Company's and the group's future results
of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies
and opportunities and the markets in which the Company and the group operates and includes,
statements with respect to (i) the NBU Acquisition, (ii) issuance of Shares thereunder, and (iii)
receipt of TSXV approval of the NBU Acquisition. Forward-looking statements are statements that
are not historical facts and may be identified by words such as "believe", "expect", "anticipate",
"intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their
negative, or similar expressions. The forward-looking statements in this news release are based
upon various assumptions, many of which are based, in turn, upon further assumptions. Although the
Company believes that the expectations reflected in these forward-looking statements are
reasonable, it can give no assurance that they will materialize or that the assumptions on which it is
based are correct. Because these statements are based on assumptions or estimates and are
subject to risks and uncertainties, the actual results or outcome could differ materially from those set
out in the forward-looking statements as a result of many factors. Such risks, uncertainties,
contingencies, and other important factors could cause actual events to differ materially from the
expectations expressed or implied in this release by such forward-looking statements. The Company
does not guarantee that the assumptions underlying the forward-looking statements in this news
release are free from errors and readers of this news release should not place undue reliance on the
forward-looking statements in this news release. The information, opinions and forward-looking
statements that are expressly or implicitly contained herein speak only as of the date of this news
release and are subject to change without notice. Neither the Company nor anyone else undertake
to review, update, confirm or to release publicly any revisions to any forward-looking statements to
reflect events that occur or circumstances that arise in relation to the content of this news release,
unless it is required by law or Nasdaq First North Growth Market Rulebook for Issuers of Shares.
SOURCE
First Nordic Metals Corp.
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CNW 07:00e 02-JUN-25