First Nordic Closes Oversubscribed Private Placement for Nasdaq First North Listing
First Nordic Closes Oversubscribed Private Placement
for Nasdaq First North Listing
Toronto, ON, Canada – March 17, 2025 – First Nordic Metals Corp. (the “Company” or “FNM”)
(TSX.V: FNM, OTCQB: FNMCF, Germany: HEG0) is pleased to announce that it has closed its
previously announced brokered private placement (the “Private Placement”) of Swedish depository
receipts (“SDRs”) in conjunction with its planned listing on the Nasdaq First North Growth Market
(“Nasdaq First North”) in Sweden. SDRs are a financial instrument issued by a Swedish bank
representing shares in a non -Swedish company. Once FNM receives final approval to list on the
Nasdaq First North, the first day for trading of the SDRs is expected to be March 21, 2025.
As announced on March 11, 2025, the Private Placement of SEK 7.5 million was fully subscribed
and the full oversubscription allotment of SEK 2.5 million was used as well.
3,105,591 SDRs were subscribed at a price of SEK 3.22 per SDR (approximately CA $0.45 using
an exchange rate of SEK 7.15 to CA $1.00) for aggregate gross proceeds of approximately SEK
10.0 million (CA $1.4 million). Each subscribed SDR is underpinned by one common share of the
Company (each, a “Share”).
The net proceeds from the Private Placement will be used by the Company for exploration at its
properties in Sweden, as well as general working capital and corporate purposes.
FNM undertook the Private Placement to increase its number of SDR holders for its Swedish listing.
The Private Placement was directed to investors in Sweden and Finland. The Shares issued
pursuant to the Private Placement that are underpinning the SDRs will be subject to a Canadian
four month a nd one day statutory hold period from the closing of the Private Placement. A
subscriber in the Private Placement is not permitted to convert subscribed SDRs to Shares during
the hold period in Canada.
The Private Placement remains subject to the final acceptance of the TSXV.
Augment Partners AB (“Augment”) acted as the financial advisor to the Company in connection
with the Private Placement. In consideration of its services, the Company has agreed to pay
Augment a cash commission equal to 6.0% of the gross proceeds from the Private Placement.
NEWS RELEASE
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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 b elt. 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:
Alicia Ford
Director, Corporate Development
Phone: 604-6878566
Email: [email protected]
Follow First Nordic Metals:
Twitter: @fnmetals
Youtube: @firstnordicmetalscorp
LinkedIn: @firstnordicmetals
Facebook: @FirstNordicMetals
Instagram: @firstnordicmetals
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 release.
Important information
This press release may not be made public, published or distributed, directly or indirectly, in or into Australia, Hong Kong, Japan, New
Zealand, Singapore, South Africa, Switzerland or the United States or any other jurisdiction where such distribution wo uld require
registration or other measures in addition to those required by Swedish law, is prohibited, or otherwise is unlawful or canno t be made
without the application of an exemption from such action.
The publication, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions and the
recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and
follow such legal restrictions. The recipient of this press release is responsible for using this press release, and the information contained
herein, in accordance with applicable rules in each jurisdiction. This press release does not c onstitute an offer, or a solicitation of any
offer, to buy or subscribe for any securities in the Company in any jurisdiction, neither from the Company nor from someone else.
This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Co uncil
of 14 June 2017 (the “Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction.
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This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States.
The securities referred to herein may not be sold in the United States absent registration or an exemption from re gistration under the
US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration
or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.
Forward-looking Statements
This press 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. Forward -looking statements are
statements that are not historical facts and may be identified by words such as “believe”, “expect”, “anti cipate”, “intend”, “may”, “plan”,
“estimate”, “will”, “should”, “could”, “aim” or “might”, or, in each case, their negative, or similar expressions. The forwar d-looking
statements in this press 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 press release are
free from errors and readers of this press release should not place undue reliance on the forward -looking statements in this press
release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of the
date of this press 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 press release, unless it is required by law or Nasdaq First North Growth Market Rulebook for Issuers of
Shares.