Blue Moon Announces Follow on Investment of C$1.2M from Mining Contractor

Rhea-AI Summary

Blue Moon Metals (TSXV: MOON, NASDAQ: BMM) announced a follow‑on subscription by mining contractor Leonhard Nilsen & Sønner AS of 168,514 common shares at C$7.208 per share (≈C$1.2M). The financing needs TSXV approval and is expected to close on or about Mar 17, 2026.

Proceeds are expected to be used for underground development at the Nussir copper‑gold‑silver project; issued shares will carry a statutory four‑month plus one‑day hold period.

Positive

• Additional committed capital of C$1.2M for underground development
• Continued contractor alignment: LNS has multiple subscriptions totaling C$6.53M

Negative

• Financing requires TSXV approval, creating closing uncertainty
• Issuance of common shares causes shareholder dilution and a four‑month plus one‑day hold period

Key Figures

Follow-on investment: C$1.2M New shares issued: 168,514 shares Financing share price: $7.208 +5 more

8 metrics

Follow-on investment C$1.2M Follow-on subscription by mining contractor LNS

New shares issued 168,514 shares Common shares subscribed to in the Financing

Financing share price $7.208 Subscription price per common share in the Financing

Initial LNS subscription C$4.2M Subscription that closed on Dec 19, 2024

Second LNS subscription C$1.13M Subscription that closed on May 8, 2025

Hold period 4 months and 1 day Statutory hold period for shares issued in the Financing

Springer acquisition value US$18.5M Aggregate consideration for Springer mine acquisition

Nussir project Copper-gold-silver project Location where LNS is the mining contractor

Market Reality Check

Price: $6.18 Vol: Volume 466,349 is 3.8x th...

high vol

$6.18 Last Close

Volume Volume 466,349 is 3.8x the 20-day average of 122,854, indicating elevated trading interest before this financing news. high

Technical Trading at $6.18, above the 200-day MA of $4.21 and near the 52-week high of $6.21.

Peers on Argus

No peers were flagged in the momentum scanner and no same-day peer headlines wer...

No peers were flagged in the momentum scanner and no same-day peer headlines were recorded, indicating this +21.53% move appears stock-specific rather than sector-driven.

Historical Context

3 past events · Latest: Mar 02 (Positive)

Pattern 3 events

Date	Event	Sentiment	Move	Catalyst
Mar 02	Apex mine acquisition	Positive	+21.5%	Agreement to acquire Apex germanium, gallium and copper mine from Teck.
Feb 11	Drilling program update	Positive	-1.3%	Announcement of ~40,000m 2026 infill and step-out drilling across four assets.
Feb 10	Springer deal closing	Positive	+6.3%	Closing of US$18.5M acquisition of Springer tungsten mine and processing plant.

Pattern Detected

Recent news has been dominated by asset acquisitions and project advancement. Shares have tended to rise on acquisition news, while development updates have shown more mixed reactions.

Recent Company History

Over recent months, Blue Moon announced and closed acquisitions such as the Springer tungsten and critical metals mine, with consideration of US$18.5 million, and agreed to acquire the Apex germanium, gallium and copper mine from Teck, adding a 250 Ha Utah property plus offtake and investor rights. A large 2026 drilling program of ~35,000–45,000 metres across four projects was also outlined. Today’s contractor-led equity financing fits into this broader build-out of multiple critical metals assets and mine development work.

Market Pulse Summary

This announcement highlights a follow-on C$1.2M investment by Blue Moon’s mining contractor, subscri...

Analysis

This announcement highlights a follow-on C$1.2M investment by Blue Moon’s mining contractor, subscribing for 168,514 shares at $7.208 with a statutory four‑month‑and‑one‑day hold. It underscores aligned interests at the Nussir copper‑gold‑silver project and follows earlier LNS financings and the US$18.5M Springer acquisition. Investors may track how these funds advance underground development and how additional capital needs are managed as multiple projects progress.

AI-generated analysis. Not financial advice.

TORONTO, March 3, 2026 /PRNewswire/ - Blue Moon Metals Inc. ("Blue Moon" or the "Company") (TSXV: MOON) (NASDAQ: BMM) is pleased to announce that Leonhard Nilsen & Sønner AS ("LNS"), the Company's mining contractor at the Nussir copper-gold-silver project in Norway, has subscribed to 168,514 common shares in the Company, at a share price of $7.208 (the "Financing").

This investment is in addition to LNS' initial C$4.2 million subscription that closed on December 19, 2024 and the C$1.13 million subscription that closed on May 8, 2025, which was triggered by the start of LNS underground mobilization at the Nussir project.

The Financing is subject to approval by the TSX Venture Exchange ("TSXV") and is expected to close on or about Mar 17, 2026. No finder's fees were paid in connection with the Financing, and the Common Shares issued pursuant to the Financing will be subject to a statutory 4-month and one day hold period from the date of issuance. The proceeds from the Financing are expected to be used for underground development at the Project.

About Blue Moon

Blue Moon is advancing 5 brownfield polymetallic projects, including the Nussir copper-gold-silver project in Norway, the NSG copper-zinc-gold-silver project in Norway, the Blue Moon zinc-gold-silver-copper project in the United States, the Springer tungsten-molybdenum project in the United States and the Apex germanium-gallium-copper in the United States. All 5 projects are well located with existing local infrastructure including roads, power and historical infrastructure. Zinc, copper and tungsten are currently on the USGS and EU list of metals critical to the global economy and national security and germanium and gallium are also on the USGS list of critical metals. Major shareholders include funds managed by Oaktree Capital Management, Hartree Partners LP, Wheaton Precious Metals, Altius Minerals Corporation, Baker Steel Resources Trust, LNS and Monial. More information is available on the Company's website (www.bluemoonmetals.com).

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.

CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable Canadian and United States securities laws. All statements included herein, other than statements of historical fact, may be forward-looking information and such information involves various risks and uncertainties. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions.

Without limiting the generality of the foregoing, this news release contains forward looking information pertaining to the following: the expected benefits and synergies from the Transaction; production estimates and growth in reserve and resources of the Springer Mine and Mill; successful operation of the Springer Mine and Mill; production estimates and growth in reserve and resources of the Springer Mine and Mill; successful operation of the Apex projectl; and the continued testing, exploration, mining and advancement of Blue Moon's operations across multiple jurisdictions; conversion of the Springer Mine and Mill to support Blue Moon mining operations; mineral price expectations; and other matters ancillary or incidental to the foregoing.

A number of risks, uncertainties and other factors could cause actual results and events to differ materially from those expressed or implied in the forward-looking information or could cause the Company's current objectives, strategies and intentions to change. These risks and uncertainties include but are not limited to: the inability of Blue Moon to complete and integrate the Transaction risks associated with the integration of Springer Mine and Mill operations and Apex project; risks associated with mining operations in Nevada and Utah; regulatory and permitting risks at the state and federal level including with respect to the development of the Blue Moon Mine; and management's ability to anticipate and manage the factors and risks referred to herein. A comprehensive discussion of other risks that impact Blue Moon can also be found in its public reports and filings which are available at www.sedarplus.ca and on the website of the U.S. Securities and Exchange Commission at www.sec.gov.

The forward-looking information is based on certain key expectations and assumptions made by Blue Moon's management, including but not limited to: expectations concerning prevailing commodity prices; the ability to obtain, renew and extend permits as required; estimates of reserves and resources various sites; the integration of the Springer Mine and Mill operations: and the estimates or reserves and resources at Apex.

Any forward-looking information contained in this news release represents management's current expectations and are based on information currently available to management and are subject to change after the date of this news release. Accordingly, the Company warns investors to exercise caution when considering statements containing forward-looking information and that it would be unreasonable to rely on such statements as creating legal rights regarding the Company's future results or plans.

The Company cannot guarantee that any forward-looking information will materialize and readers are cautioned not to place undue reliance on this forward-looking information. Except as required by applicable securities laws, the Company is under no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein.

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SOURCE Blue Moon Metals

FAQ

What did Blue Moon Metals (BMM) announce on Mar 3, 2026 about LNS investing?

Blue Moon announced LNS subscribed to 168,514 shares at C$7.208, equal to about C$1.2M. According to the company, the financing is subject to TSXV approval and is expected to close on or about Mar 17, 2026.

How will the C$1.2M financing from LNS affect Blue Moon Metals (BMM) operations?

The proceeds are earmarked for underground development at Nussir, supporting near‑term project work. According to the company, funds are expected to be used directly for underground mobilization and related development activities.

When will the LNS share issuance for Blue Moon Metals (BMM) be available to trade?

The Common Shares will be subject to a statutory four‑month and one‑day hold period from issuance, delaying trading. According to the company, the financing also requires TSXV approval and is expected to close on or about Mar 17, 2026.

How much has LNS invested in Blue Moon Metals (BMM) including the Mar 3, 2026 financing?

Including the new C$1.2M subscription, LNS has subscribed approximately C$6.53M in total to date. According to the company, prior subscriptions closed Dec 19, 2024 (C$4.2M) and May 8, 2025 (C$1.13M).

Does the Mar 2026 LNS financing for Blue Moon Metals (BMM) involve finder's fees?

No finder's fees were paid in connection with this financing, per the company. According to the company, the subscription was direct and will be completed subject to TSXV approval and customary hold periods.