NexMetals Announces Upsizing of Public Offering to $80 Million
Rhea-AI Summary
NexMetals (TSXV:NEXM, NASDAQ:NEXM) increased its previously announced "best efforts" public offering from C$65.0 million to C$80.0 million due to strong institutional demand, representing a second upsizing.
The amended Offering will consist of up to 14,035,100 Units (one common share plus one warrant each), with no over-allotment option. Each warrant is exercisable for 24 months at C$8.00. Agents will receive a cash fee equal to 6% of gross proceeds (reduced to 2% for certain president's list sales up to C$7.0 million).
Net proceeds are planned to prepay a contingent milestone under the Asset Purchase Agreement for the Selebi and Selkirk mines prior to end-2025, advance exploration and development in Botswana, and for working capital. Closing is expected on or about November 13, 2025, subject to approvals.
Positive
- Offering upsized to C$80.0 million
- Issuance of 14,035,100 Units
- Warrants exercisable for 24 months at C$8.00
- Proceeds allocated to prepay Selebi/Selkirk milestone before 2026
Negative
- Potential dilution from 14,035,100 new shares and warrants
- Agents will receive a 6% cash fee of gross proceeds
- Securities not registered in the US; US persons excluded
News Market Reaction – NEXM
On the day this news was published, NEXM declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Further Upsized from
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
The Offering will be conducted by certain agents 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
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.
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
morganl@nexmetalsmining.com
Jaclyn Ruptash
V.P., Communications and Investor Relations
jaclyn@nexmetalsmining.com
1-833-770-4334
Follow Us
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LinkedIn: https://www.linkedin.com/company/NexMetalsMiningCorp
Facebook: https://www.facebook.com/NexMetalsMiningCorp
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272558
FAQ
What is the size and structure of NexMetals' upsized public offering (NEXM) announced October 30, 2025?
What are the warrant terms in NexMetals' C$80 million offering (NEXM)?
How will NexMetals use the net proceeds from the offering (NEXM)?
When is the NexMetals (NEXM) offering expected to close and what approvals are required?
What fees do agents receive for NexMetals' upsized offering (NEXM)?
Can US investors participate in NexMetals' offering (NEXM)?
