Nortec Announces Completion of $253,000 Non-Brokered Flow-Through Private Placement
Nortec Announces Completion of $253,000
Non-Brokered Flow-Through Private
Placement
Vancouver, British Columbia--(Newsfile Corp. - December 29, 2025) -
NORTEC MINERALS CORP
.
(TSXV: NVT)
("
Nortec
" or the "
Company
") is pleased to announce completion of the first tranche of
the previously announced (November 12, 2025) non-brokered private placement of flow-through Units
("FT Units"), for gross proceeds of $253,000 (the "
Private Placement
").
NON-BROKERED PRIVATE PLACEMENT
The Company has completed Tranche 1 having closed gross proceeds of $253,000 through the
issuance of 3,892,306 units of the Company (the "FT
Units
") at a price of $0.065 per FT Unit. Each FT
Unit consisted of one Common Share (a "
FT Share
"), which was issued as a "flow-through share" (as
defined in subsection 66(15) of the
Income Tax Act
(Canada)) (the "
Tax Act
") and one (1) Common
Share purchase warrant (a "
Warrant
").
Warrant Terms
Each Warrant shall have a term of 36-months, subject to acceleration;
During the first 18-months after closing of the Offering and FT Offering, or any tranche thereof, the
exercise price of one full Warrant shall be C$0.065 and thereafter C$0.11 per common share;
Pursuant to the terms of the Warrants, if over a period of 10 consecutive trading days (a "Trading
Target") between the date that is four months and one day following the Closing Date and the
expiry date of the Warrants, the volume weighted average price of the Common Shares on the
TSX-Venture Exchange or such other stock exchange where the majority of the trading volume
occurs, exceeds or is equal to $0.10 (the "
Acceleration Trading Price
"), the Company may, at its
sole option, accelerate the expiry date of the Warrants, provided that: (i) the Company
disseminates a press release providing notice of its intention to accelerate the expiry date of the
Warrants; and (ii) the accelerated expiry date of the Warrants falls on or after the 30th trading day
after the date of dissemination of such press release, unless exercised by holders prior to such
date.
An amount equal to the gross proceeds from the issuance of the FT Shares will be used to incur
"Canadian exploration expenses" (as this term is defined in the Tax Act) that the Company may
renounce pursuant to the Tax Act with an effective date not later than December 31, 2025, and that
qualify either as "flow-through mining expenditures" (as this term is defined in the Tax Act).
No finders' fees are payable in respect of the Private Placement and proceeds will be used for
exploration activities on its Ontario mineral properties.
The Private Placement is subject to TSX-V acceptance.
BARKER BAY GOLD PROPERTY ACQUISITION
The Company is pleased to report on the status of the proposed acquisition of the Barker Bay Gold
Property (the "Acquisition") as announced via new release on November 5, 2025.
The Company received conditional approval for the Acquisition from the TSX Venture Exchange (the
"TSXV") on December 4, 2025 and continues to work towards satisfying the conditions precedent to
closing the Acquisition, including the completion of the concurrent private placement described in the
Company's press release dated November 12, 2025 (together with Acquisition, the "Transaction").
The Company expects to close the Transaction in Q1 2026.
About Nortec Minerals Corp.
Nortec is a mineral exploration company that holds 100% interests in two exploration stage critical
mineral (zinc) projects, namely the Mattagami River Zinc properties and the Sturgeon Lake VMS, both
located in Ontario, Canada.
Additionally, the Company holds a 17% interest in the Tammela Gold and
Tammela Lithium projects in Southwest Finland. Additional information can be found on the Company's
SEDAR+ profile at
www.sedarplus.ca
and its website at
www.nortecminerals.com
.
On behalf of the Board of Directors,
"Ryan Hrkac"
Chief Executive Officer
Email:
Neither 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.
This press release contains certain forward-looking statements which involve known and unknown risks,
delays and uncertainties not under the Company's control which may cause actual results, performance
or achievements of the Company to be materially different from the results, performance or expectations
implied by these forward-looking statements. This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United States.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/279114