NexMetals Announces C$65 Million Public Offering of Units Upsized from $50 Million Due to Strong Demand
NexMetals Announces C$65 Million Public
Offering of Units
Upsized from $50 Million Due to Strong Demand
Vancouver, British Columbia--(Newsfile Corp. - October 28, 2025) -
NexMetals Mining Corp. (TSXV:
NEXM) (Nasdaq: NEXM)
(the "
Company
" or "
NEXM
") is pleased to announce a "best efforts" public
offering (the "
Offering
") pursuant to an agreement with SCP Resource Finance LP ("
SCP
") as sole
bookrunner and together with Raymond James Ltd ("
RJ
") as co-lead agents ("
Co-Lead Agents
"), on
their own behalf and on behalf of a syndicate of one or more additional agents, of up to 11,403,509 units
of the Company (the "
Units
" or "
Offered Securities
") at a price of C$5.70 per Unit for aggregate gross
proceeds of up to C$65 million.
Each Unit will consist of one common share of the Company (each, a "
Common Share
") and one
common share purchase warrant of the Company (each, a "
Warrant
"). Each Warrant will entitle the
holder to acquire one Common Share for a period expiring 24 months following the date of issuance at a
price of C$8.00.
The net proceeds from the Offering are expected to be used to fund the prepayment of the first
contingent milestone payment under the Asset Purchase Agreement ("
APA
") for the Selebi and Selkirk
mines, the timing of which is planned prior to the end of 2025, to advance exploration and development
activities at the Company's mineral assets in Botswana, and for working capital and general corporate
purposes.
Morgan Lekstrom, CEO of the Company, commented: "
Allocating a portion of this financing toward
the prepayment of the APA would mark a critical step in securing title to both the Selebi and Selkirk
assets, while allowing significant advancement on the high-grade projects in Botswana. Once
completed, this will support long-term value creation while further derisking the assets."
The Offered Securities will be sold by way of a short-form prospectus in each of the provinces of
Canada, except Quebec. The Units will also be offered (i) in the United States on a private placement
basis pursuant to one or more exemptions from the registration requirements of the U.S. Securities Act,
and (ii) in such other jurisdictions outside of Canada and the United States provided that a placement
therein does not give rise to any prospectus, registration or continuous disclosure obligations on the part
of the Company (collectively, the "
Selling Jurisdictions
").
The Company has granted to the Co-Lead Agents an option (the "
Over-Allotment Option
") to purchase
up to that number of additional Offered Securities which equal to 15% of the Offered Securities issued
pursuant to the Offering to cover over-allotments and for market stabilization purposes. The Over-
Allotment Option will be exercisable in whole or in part, at any time and from time to time, for a period of
30 days from and including the Closing Date (as defined herein).
In connection with the Offering, the Company has agreed to pay to the Agents a cash fee equal to 6% of
the gross proceeds of the Offering (including upon any exercise of the Over-Allotment Option), subject to
a reduced cash fee equal to 2.0% payable in respect of sales to certain individuals on a "president's list"
for gross proceeds of up to C$5 million.
The Offering is expected to close on or about November 13, 2025 (the "
Closing Date
") and remains
subject to the receipt of all necessary approvals.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be
any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful, including any of the securities in the United States of America. The securities have not been
registered under the United States Securities Act of 1933, as amended (the "
1933 Act
") or any U.S.
state securities laws and may not be offered or sold within the United States or to, or for account or
benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the
1933 Act and applicable U.S. state securities laws, or an exemption from such registration requirements
is available.
About NexMetals Mining Corp.
NexMetals Mining Corp. is a mineral exploration and development company that is focused on the
redevelopment of the previously producing copper, nickel and cobalt resources mines owned by the
Company in the Republic of Botswana.
NexMetals is committed to governance through transparent accountability and open communication
within our team and our stakeholders. NexMetals' team brings extensive experience across the full
spectrum of mine discovery and development. Collectively, the team has contributed to dozens of
projects, including work on the Company's Selebi and Selkirk mines. Senior team members each have
on average, more than 20 years of experience spanning geology, engineering, operations, and project
development.
For further information about NexMetals Mining Corp., please contact:
Morgan Lekstrom
CEO and Director
Jaclyn Ruptash
V.P., Communications and Investor Relations
18337704334
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Neither the TSX Venture Exchange and its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) nor the Nasdaq Stock Market LLC accepts
responsibility for the adequacy or accuracy of this news release. No stock exchange, securities
commission or other regulatory authority has approved or disapproved the information
contained herein.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States
federal securities laws and "forward-looking information" within the meaning of applicable Canadian
securities legislation (collectively, "forward-looking information") based on expectations, estimates
and projections as at the date of this news release. Forward-looking information involves risks,
uncertainties and other factors that could cause actual events, results, performance, prospects and
opportunities to differ materially from those expressed or implied by such forward-looking information.
For the purposes of this release, forward-looking information includes, but is not limited to, statements
regarding closing of the Offering, the proceeds to be raised under the Offering and the intended use of
net proceeds of the Offering. These forward-looking statements, by their nature, require the Company
to make certain assumptions and necessarily involve known and unknown risks and uncertainties that
could cause actual results to differ materially from those expressed or implied in these forward-looking
statements. Factors that could cause actual results to differ materially from such forward-looking
information include, but are not limited to, the receipt of regulatory approvals for the Offering; changes
in equity markets; inflation; fluctuations in commodity prices; the other risks involved in the mineral
exploration and development industry; and those risks set out in the Company's filings with the U.S.
Securities and Exchange Commission on EDGAR (www.sec.gov) and public disclosure record on
SEDAR+ (
www.sedarplus.com
), in each case, under the Company's issuer profile. Although the
Company believes that the assumptions and factors used in preparing the forward-looking information
in this news release are reasonable, undue reliance should not be placed on such information, which
only applies as of the date of this news release, and no assurance can be given that such events will
occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to
update or revise any forward-looking information, whether as a result of new information, future events
or otherwise, other than as required by law.
Not for distribution to U.S. Newswire Services or for release, publication, distribution or
dissemination directly or indirectly, in whole or in part, in or into the United States.
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