Nine Mile Metals Ltd. Announces Private Placement to Fund New Brunswick Exploration

Nine Mile Metals Ltd. (CSE: NINE, OTC: VMSXF, FSE: KQ9) disclosed on 5 January 2026 that it will conduct a private placement of up to 21,052,632 units, each priced at US $0.19. The offering is expected to raise up to US $4 million in gross proceeds.

Structure of the Units

Each unit consists of:

  • One common share of Nine Mile Metals.
  • One common share purchase warrant exercisable for one common share at US $0.30 for a period of two years.

The warrants provide holders with potential upside if the share price exceeds the exercise price within the two‑year window.

Regulatory Framework

The private placement is offered under National Instrument 45‑106 – Prospectus Exemptions and the listed issuer financing exemption. It is available to purchasers residing in all Canadian provinces except Quebec, and to other qualifying jurisdictions. Compliance with the applicable regulatory requirements is required before the units are sold.

Use of Proceeds

Nine Mile Metals intends to deploy the proceeds for exploration activities in New Brunswick. The company announced that it will “cash up for New Brunswick exploration,” indicating that the funds will support drilling and related exploration work on its New Brunswick project sites.

Market Context

  • Current share price (2026‑01‑01): CAD 0.24
  • 52‑week high: CAD 0.275
  • 52‑week low: CAD 0.005
  • Market capitalisation: CAD 25,835,276
  • Price‑earnings ratio: –15.79

Nine Mile Metals is a Canadian mining company focused on gold and silver exploration and development, with a strong emphasis on sustainable mining practices. The company’s primary asset is the 9 Mile property near La Grande, British Columbia, but it is expanding its portfolio through new projects such as those in New Brunswick.

Summary

The private placement provides Nine Mile Metals with capital to advance its New Brunswick exploration program while offering investors a unit that includes both common shares and warrants. The transaction is structured to comply with Canadian securities exemptions and is expected to raise up to US $4 million for the company.