Noram Lithium Announces Closing of Fully Allocated Non-Brokered Financing

Rhea-AI Summary

Noram Lithium (OTCQB: NRVTF) closed a fully allocated non-brokered private placement on February 5, 2026, raising $1,067,500 through issuance of 10,675,000 units. Each Unit includes one common share and one warrant exercisable at $0.15 for 36 months. Net proceeds will fund general working capital, corporate overhead, and exploration and development. Insiders subscribed $175,000 (1,750,000 Units). The company paid $35,550 in cash finder's fees and issued 355,550 finder's warrants. No new control persons were created. The Offering remains subject to final TSX Venture Exchange acceptance.

Positive

• Capital raised of $1,067,500 through issuance of 10,675,000 units
• Proceeds allocated to exploration and development plus general working capital
• Insider participation of $175,000 (1,750,000 Units) indicating insider buy-in

Negative

• Issuance of 10,675,000 new units and 355,550 finder's warrants will dilute existing shareholders
• Paid $35,550 in cash finder's fees increasing transaction costs
• Offering remains subject to TSXV final acceptance, creating conditionality

VANCOUVER, BC / ACCESS Newswire / February 5, 2026 / Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to announce that it has closed its previously announced non-brokered private placement financing (the "Offering") for gross proceeds of $1,067,500 through the issuance of 10,675,000 units (each, a "Unit").

Each Unit consists of one common share in the capital of the Company and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at a price of $0.15 per share for a period of 36 months from the date of issuance.

The net proceeds of the Offering will be used for general working capital, corporate overhead, and exploration and development activities.

Certain insiders of the Company participated in the Offering, collectively subscribing for $175,000 and receiving an aggregate of 1,750,000 Units. Such participation constitutes a related party transaction within the meaning of TSX Venture Exchange ("TSXV") Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. The Company expects that the insider participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
In connection with the Offering, the Company paid aggregate cash finder's fees of $35,550 and issued an aggregate of 355,550 finder's warrants. Each finder's warrant entitles the holder to purchase one common share at a price of $0.15 per share for a period of 36 months from the date of issuance.

No new control persons were created as a result of the Offering. The Offering remains subject to final acceptance of the TSX Venture Exchange.

For additional information:

Contacts:
In Europe: VP Corporate Development simon.studer@noramlithium.com
Elsewhere: Investor Relations at ir@noramlithiumcorp.com
Website: www.noramlithiumcorp.com

ON BEHALF OF THE BOARD OF DIRECTORS

Sandy MacDougall
Director

About Noram Lithium Corp.

Noram Lithium Corp. (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is focusing on advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging lithium hub within the United States. With the upsurge in the electric vehicle and energy storage markets the Company aims to become a key participant in the domestic supply of lithium in the United States. The Company is committed to creating shareholder value through the strategic allocation of capital.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward Looking Information

This news release may contain forward-looking information which is not comprised of historical facts. 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. Forward-looking information in this news release includes statements regarding, among other things, plans for ongoing development of the Zeus Lithium Project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, results of further exploration work, and availability of capital on terms acceptable to the Company. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, 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. Noram 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 applicable securities laws.

SOURCE: Noram Lithium Corp.

View the original press release on ACCESS Newswire

FAQ

How much did Noram Lithium (NRVTF) raise in the February 5, 2026 private placement?

The company raised $1,067,500 through the private placement. According to the company, proceeds came from issuance of 10,675,000 units, each unit including one share and one warrant exercisable at $0.15 for 36 months.

What securities were issued in Noram Lithium's (NRVTF) financing and what are the warrant terms?

Noram issued 10,675,000 units, each unit including one share and one warrant. According to the company, warrants permit purchase of one share at $0.15 per share for a 36-month period from issuance.

Did insiders participate in Noram Lithium's (NRVTF) financing and how much did they subscribe?

Yes. Insiders collectively subscribed for $175,000, receiving 1,750,000 units. According to the company, this participation is a related party transaction expected to be exempt from certain MI 61-101 formal requirements.

What were the transaction costs for Noram Lithium's (NRVTF) offering including finder's fees?

The company paid aggregate cash finder's fees of $35,550 and issued 355,550 finder's warrants. According to the company, each finder's warrant is exercisable at $0.15 for 36 months from issuance.

Is Noram Lithium's (NRVTF) offering final and are there any regulatory conditions?

The Offering is closed but remains subject to final acceptance by the TSX Venture Exchange. According to the company, no new control persons resulted from the Offering and final TSXV acceptance is pending.