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Nine Mile Metals Ltd ( (TSE:NINE) ) has provided an update.
Nine Mile Metals Ltd. has announced a private placement to issue up to 18,507,143 units, each comprising one common share and one warrant, priced at $0.021 per unit. The proceeds, expected to reach up to $157,500, will be used for operating expenses. Additionally, the company will issue units to settle convertible loans, with the issuance not resulting in a new insider or control person. This move aims to strengthen the company’s financial position, supporting its strategic focus on critical mineral exploration amid rising demand driven by EV and green technology markets.
More about Nine Mile Metals Ltd
Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on critical minerals VMS exploration in the Bathurst Mining Camp, New Brunswick, Canada. The company aims to explore its four VMS projects to support the demand for minerals essential in electric vehicle and green technologies, including copper, silver, lead, zinc, and gold.
YTD Price Performance: -25.00%
Average Trading Volume: 18,492
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $820.5K
See more insights into NINE stock on TipRanks’ Stock Analysis page.
