First Nordic Metals Upsizes "Best Efforts" LIFE Offering of Units to C$13.4 Million
First Nordic Metals Upsizes "Best Efforts" LIFE
Offering of Units to C$13.4 Million
/ NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
TORONTO
,
July 10, 2025
/CNW/ -
First Nordic Metals Corp.
(the "
Company
" or "
First Nordic
")
(TSXV:FNM) (FNSE: FNMC SDB) (OTCQB:FNMCF) (FRA:HEG0) is pleased to announce that it has
amended the terms of its previously announced "best efforts" financing to increase the size of the
offering from
C$10 million
to up to
C$13.4 million
(the "
Upsized Offering
").
Under the terms of the Upsized Offering, Haywood Securities Inc. ("
Haywood
"), as co-lead agent and
sole bookrunner, alongside Ventum Financial Corp. ("
Ventum
") as co-lead agent, on its own behalf
and on behalf of Ventum and a syndicate of agents including Research Capital Corporation, Hannam &
Partners LLP, Red Cloud Securities Inc., and Roth Canada, Inc. (together with
Haywood
and Ventum,
the "
Agents
"), have agreed to sell, on a "best efforts" private placement basis, up to 36,244,444 units
of the Company (the "
Units
") at a price per Unit of
C$0.37
(the "
Issue Price
") for aggregate gross
proceeds to the Company of up to
C$13,410,444
, to be issued and sold on a prospectus-exempt
basis pursuant to the 'listed issuer financing exemption' under applicable Canadian securities laws, and
subject to all necessary regulatory and stock exchange approvals. The minimum amount of the
Upsized Offering remains
C$5,000,000
.
Each Unit will consist of one common share in the capital of the Company (a "
Common Share
") and
one-half of one common share purchase warrant of the Company (each whole purchase warrant, a
"
Warrant
"). Each Warrant will entitle the holder thereof to acquire one Common Share (a "
Warrant
Share
") at a price per Warrant Share of
C$0.55
for a period of 24 months from the closing date of
the Upsized Offering. The expiry date of the Warrants may be accelerated by the Company at any
time following the closing date of the Upsized Offering and prior to the expiry date of the Warrants if
the volume-weighted average trading price of the Company's common shares is greater than
C$0.75
for any 20 consecutive trading days, at which time the Company may accelerate the expiry date by
issuing a press release to announce the reduced warrant term whereupon the Warrants will expire on
the 20
th
calendar day after the date of such press release.
The Company has agreed to grant the Agents an option (the "
Agents' Option
") to sell up to an
additional 15% of the Upsized Offering in Units at the Issue Price for additional gross proceeds to the
Company of up to
C$2,011,567
.
The net proceeds from the sale of the Units will be used by the Company for exploration at its
properties in
Sweden
and
Finland
, and general working capital and corporate purposes.
The Units will be offered in accordance with the 'listed issuer financing exemption' in Part 5A of
National Instrument 45-106 –
Prospectus Exemptions
("
NI 45-106
"), to purchasers in any province of
Canada
, except Québec. The Units issued and sold under the Upsized Offering will not be subject to a
'hold period' pursuant to applicable Canadian securities laws. There is an offering document related to
the offering of Units that can be accessed under the Company's issuer profile at
www.sedarplus.ca
and on the Company's website at
www.firstnordicmetals.com
. Prospective investors should read this
offering document before making an investment decision concerning the Units. The Units to be issued
and sold under the Upsized Offering will not be subject to resale restrictions pursuant to applicable
Canadian securities laws.
The Upsized Offering is expected to close on or about
July 31, 2025
, and is subject to certain closing
conditions including, but not limited to, the receipt of all necessary approvals including the approval of
the TSX Venture Exchange ("
TSXV
") and the applicable securities regulatory authorities.
In consideration for their services, the Company has agreed to pay the Agents a cash commission
equal to 6.0% of the gross proceeds from the Upsized Offering (subject to reduction to 3.0% on
certain president's list purchases) and that number of non-transferable compensation options (the
"
Compensation Options
") as is equal to 6.0% of the aggregate number of Units sold under the
Upsized Offering (subject to reduction to 3.0% on certain president's list purchases). Each
Compensation Option is exercisable to acquire one Common Share at a price equal to the Issue Price
for a period of 24 months from the closing date of the Upsized Offering.
The Units have not been registered under the U.S. Securities Act of 1933, as amended, and may not
be offered or sold in
the United States
absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation
or sale would be unlawful.
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 80,000 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
July 10, 2025
,
at
6:45 p.m. Eastern Time
.
Neither
the
TSX
Venture
Exchange
nor
its
Regulation
Services
Provider
(as
that
term
is
defined
in
the
policies
of
the
TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy
of this news release
.
Forward-Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the applicable
Canadian securities legislation that are based on expectations, estimates, assumptions, geological
theories, and projections as at the date of this news release. The information in this news release
about any information herein that is not a historical fact may be "forward looking statements." Any
statement that involves discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions, future events or performance (which may, but not always,
include phrases such as "anticipates", "plans", "scheduled", "believed" or "intends" or variations of
such words and phrases or stating that certain actions, events or results "may" or "could", "would",
"might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be
forward-looking statements and are intended to identify forward-looking statements.
Forward-looking
statements in this new release include, among others, statements with respect to the terms of the
Upsized Offering, completion thereof, receipt of all necessary approvals in respect of the Upsized
Offering and the use of proceeds of the Upsized Offering.
Although the forward-looking statements contained in this news release are based upon what
management believes, or believed at the time, to be reasonable assumptions, the Company cannot
assure readers that actual results will be consistent with such forward-looking statements, as there
may be other factors that cause results not to be as anticipated, estimated or intended. Such factors
include, among others, risks relating to the timing and ability of the Company to obtain and the
timing of the approval of relevant regulatory bodies, if at all; risks relating to property interests; risks
related to access to the Company's projects; risks inherent in mineral exploration, including the fact
that any particular phase of exploration may be unsuccessful; geo-political risks; the global
economic climate; metal prices; environmental risks; political risks; and community and non-
governmental actions. Neither the Company nor any other person assumes responsibility for the
accuracy and completeness of any such forward-looking statements. The Company does not
undertake, and assumes no obligation, to update or revise any such forward-looking statements or
forward-looking information contained herein to reflect new events or circumstances, except as may
be required by law.
SOURCE
First Nordic Metals Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/July2025/10/c6101.html
%SEDAR: 00037711E
CO: First Nordic Metals Corp.
CNW 18:45e 10-JUL-25