NexMetals Announces Upsizing of Public Offering to $80 Million Further Upsized from $65 Million Due to Strong Demand
NexMetals Announces Upsizing of Public
Offering to $80 Million
Further Upsized from $65 Million Due to Strong Demand
Vancouver, British Columbia--(Newsfile Corp. - October 30, 2025) -
NexMetals Mining Corp. (TSXV:
NEXM) (NASDAQ: NEXM)
(the "
Company
" or "
NEXM
") is pleased to announce that it has increased
the size of its previously announced "best efforts" public offering (the "
Offering
") of units of the Company
("
Units
") from up to C$65,000,000 to up to C$80,000,000 due to strong demand from institutional
investors, representing the second time the offering has been upsized.
The Offering will be conducted by SCP Resource Finance LP as sole bookrunner and together with
Raymond James Ltd as co-lead agents, on their own behalf and on behalf of a syndicate of one or more
additional agents.
Under the amended terms, the Offering will consist of up to 14,035,100 Units, and there will no longer be
an over-allotment option.
The Agents will receive a cash fee equal to 6% of the gross proceeds of the
Offering, 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$7.0 million (increased from C$5.0 million). All other
details of the Offering remain as disclosed in the news release of the Company issued on October 28,
2025, and titled "
NexMetals Announces C$65 Million Public Offering of Units
". Each Unit will consist of
one common share of the Company and one common share purchase 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 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:
"We are elated by the strong demand from
mining-focused institutions. This upsizing reflects growing confidence in our assets, the team, and the
accelerated nature of the path forward. Once closed, this will provide us with the runway to advance our
strategy, secure title for both Selebi and Selkirk assets, while continue delivering on key milestones."
The Offering is expected to close on or about November 13, 2025 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
1-833-770-4334
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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.ca
), 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/272554