NexMetals Announces Listing of Warrants

Rhea-AI Summary

NexMetals (TSXV:NEXM, NASDAQ:NEXM) received TSX Venture Exchange approval to list 14,035,100 common share purchase warrants issued Nov 17, 2025 from an $80 million public offering. The Warrants are expected to commence trading on the TSXV on Dec 22, 2025 under symbol NEXM.WT.

Each Warrant converts into one common share at an $8.00 exercise price on or before Nov 17, 2027. ISIN: CA65346E1135; CUSIP: 65346E113. Warrants governed by a warrant indenture dated Nov 17, 2025, with Computershare as warrant agent; the indenture is available on SEDAR+.

Positive

• $80.0M raised in the November 17, 2025 public offering
• Potential additional cash inflow of $112.28M if all Warrants exercise

Negative

• Up to 14,035,100 new shares issuable upon full exercise
• Warrants expire on Nov 17, 2027, creating near‑term dilution risk

News Market Reaction

-2.70%

1 alert

-2.70% News Effect

-$4M Valuation Impact

$132M Market Cap

0.0x Rel. Volume

On the day this news was published, NEXM declined 2.70%, reflecting a moderate negative market reaction. This price movement removed approximately $4M from the company's valuation, bringing the market cap to $132M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Warrants listed: 14,035,100 warrants Public offering size: $80 million Warrant listing date: December 22, 2025 +4 more

7 metrics

Warrants listed 14,035,100 warrants Supplemental listing on TSXV tied to November 17, 2025 unit offering

Public offering size $80 million Recently completed public offering of units referenced in warrant listing

Warrant listing date December 22, 2025 Expected commencement of warrant trading on TSXV under symbol NEXM.WT

Warrant exercise price $8.00 per share Each warrant exercisable into one common share until expiry

Warrant expiry November 17, 2027 Final exercise date for the listed warrants

ISIN CA65346E1135 International Securities Identification Number for the warrants

CUSIP 65346E113 CUSIP identifier assigned to the warrants

Market Reality Check

Price: $4.21 Vol: Volume of 71,014 is below...

normal vol

$4.21 Last Close

Volume Volume of 71,014 is below the 20-day average of 84,830 (relative volume 0.84). normal

Technical Shares trade below the 200-day moving average of 5.01, near the 52-week low of 3.37 and well under the 10.35 high.

Peers on Argus

While NEXM was up 3.34% pre-news, key metal/mining peers like USGO, FURY, PLL, A...

While NEXM was up 3.34% pre-news, key metal/mining peers like USGO, FURY, PLL, ATLX and LGO showed declines between about -2.7% and -12.16%, indicating stock-specific strength rather than a sector-wide move.

Historical Context

5 past events · Latest: Dec 15 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 15	CEO succession plan	Neutral	-2.2%	Announced CEO transition effective January 31, 2026 with continuity on board.
Dec 03	Drill results Selkirk	Positive	+4.7%	Reported long CuEq intercepts supporting scale, grade and expansion potential.
Dec 02	Title secured assets	Positive	-3.7%	Completed US$25M milestone payment securing unencumbered title to key assets.
Nov 18	Equity incentive grants	Neutral	-0.8%	Granted RSUs and DSUs under Omnibus Plan to directors, employees and consultants.
Nov 17	Public unit offering	Neutral	-3.8%	Closed C$80M unit financing with warrants to fund asset payments and exploration.

Pattern Detected

Recent financing and asset-acquisition news has sometimes seen negative or mixed next-day reactions, while strong drill results drew a positive response.

Recent Company History

Over the last few months NexMetals has focused on financing, asset security and technical progress. On November 17, 2025 it closed a C$80,000,070 unit offering with warrants. That funding supported a US$25 million milestone payment securing unencumbered title to the Selebi and Selkirk assets on December 2, 2025. Drilling results on December 3, 2025 highlighted thick CuEq intercepts at Selkirk. The current warrant-listing announcement formalizes trading for the same warrants issued in the November financing.

Market Pulse Summary

This announcement details the TSXV listing of 14,035,100 common share purchase warrants issued in Ne...

Analysis

This announcement details the TSXV listing of 14,035,100 common share purchase warrants issued in NexMetals’ recent $80 million unit offering. The warrants trade as NEXM.WT, each exercisable at $8.00 until November 17, 2027 under a warrant indenture dated November 17, 2025. In context, this follows financing used for Botswana asset milestones and ongoing exploration. Investors may track future warrant exercises, upcoming economic studies, and additional financing disclosures.

Key Terms

warrants, common share purchase warrants, ISIN, CUSIP, +1 more

5 terms

warrants financial

"supplemental listing of 14,035,100 common share purchase warrants of the Company"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

common share purchase warrants financial

"supplemental listing of 14,035,100 common share purchase warrants of the Company"

A common share purchase warrant is a tradable right that lets its holder buy a company’s ordinary shares at a fixed price for a set period, like a coupon that can be redeemed later to buy stock at a predetermined rate. Investors care because warrants offer leverage on future upside—they can magnify gains if the share price rises above the set price—but they can also dilute existing shareholders if used, and they expire worthless if unused.

ISIN financial

"The ISIN and CUSIP numbers of the Warrants are CA65346E1135 and 65346E113"

A 12-character International Securities Identification Number (ISIN) is a unique code that acts like a passport for a specific stock, bond or other tradable security so it can be identified worldwide. Investors and systems use it to ensure they are buying, selling and tracking the exact same instrument across exchanges and data feeds, which prevents costly mix-ups and makes portfolio reporting, settlement and regulatory checks simpler and more reliable.

CUSIP financial

"The ISIN and CUSIP numbers of the Warrants are CA65346E1135 and 65346E113"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

warrant indenture financial

"The Warrants are governed pursuant to the terms of a warrant indenture dated November 17, 2025"

A warrant indenture is a legal agreement that sets out the exact rules for stock warrants — the detachable certificates that let holders buy a company’s shares at a fixed price for a set time. Think of it as the owner’s manual and contract for those warrants: it explains how and when they can be exercised, how they change if the company restructures, who enforces the terms, and what remedies exist if the issuer breaks the rules. Investors care because the indenture determines exercise rights, potential share dilution, transferability and protections that affect the value and risk of holding those warrants.

AI-generated analysis. Not financial advice.

Vancouver, British Columbia--(Newsfile Corp. - December 18, 2025) - NexMetals Mining Corp. (TSXV: NEXM) (NASDAQ: NEXM) ("NEXM" or the Company") announces that that it has received approval of the TSX Venture Exchange for the supplemental listing of 14,035,100 common share purchase warrants of the Company (the "Warrants") issued on November 17, 2025 pursuant to the Company's recently completed $80 million public offering of units. The Company anticipates that the Warrants will commence trading on the TSXV on December 22, 2025, under the symbol NEXM.WT.

Each Warrant entitles the holder thereof to acquire one common share of the Company at an exercise price of $8.00 per share on or prior to November 17, 2027. The ISIN and CUSIP numbers of the Warrants are CA65346E1135 and 65346E113, respectively. The Warrants are governed pursuant to the terms of a warrant indenture dated November 17, 2025, between the Company and Computershare Trust Company of Canada as warrant agent (the "Warrant Indenture"). A copy of the Warrant Indenture is available under the Company's profile on www.sedarplus.ca.

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
morganl@nexmetalsmining.com

Jaclyn Ruptash
V.P., Communications and Investor Relations
jaclyn@nexmetalsmining.com
1-833-770-4334

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.

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LinkedIn: https://www.linkedin.com/company/NexMetalsMiningCorp
Facebook: https://www.facebook.com/NexMetalsMiningCorp

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, the implementation of the objectives, goals and future plans of the Company. 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, capital and operating costs varying significantly from estimates; the preliminary nature of drilling and metallurgical test results; the ability of exploration results to predict mineralization; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; prefeasibility or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; 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 NEXM'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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278437

FAQ

When will NexMetals warrants (NEXM.WT) begin trading on TSXV?

The Warrants are expected to commence trading on Dec 22, 2025 under symbol NEXM.WT.

How many warrants did NexMetals list and what is the exercise price?

The company listed 14,035,100 Warrants, each exercisable for one share at $8.00 per share.

When do NexMetals warrants expire and what is the expiry date?

Each Warrant is exercisable on or prior to Nov 17, 2027, which is the expiry date.

What cash would NexMetals receive if all NEXM.WT warrants are exercised?

If all Warrants are exercised at $8.00, NexMetals would receive approximately $112.28 million.

Where can investors find the NexMetals warrant indenture and details?

The Warrant Indenture dated Nov 17, 2025 is available under NexMetals' profile on SEDAR+.