Blue Moon Metals Announces Start of Mobilization for Nussir Underground Development, Follow on Equity Investment of C$1.13M From Mining Contractor and Engagement of Market Maker

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[{"type":"text","content":"Blue Moon Metals Announces Start of Mobilization for Nussir Underground Development, Follow on Equity Investment of C$1.13M From Mining Contractor and Engagement of Market Maker \n\n\n\n TORONTO, May 08, 2025 (GLOBE NEWSWIRE) -- Blue Moon Metals Inc. (“\n \n Blue Moon\n \n ” or the “\n \n Company\n \n ”) (\n \n TSXV: MOON\n \n ;\n \n OTCQX: BMOOF\n \n ), is pleased to announce the mobilization of Leonhard Nilsen & Sønner AS (“\n \n LNS\n \n ”) in preparation for underground development of the exploration decline and confirmation of underground mining parameters at its Nussir Copper-Gold-Silver Project in Northern Norway (the “\n \n Project\n \n ”). LNS is a highly skilled world class tunneling and mining contractor with extensive experience working in northern Norway and other jurisdictions. The work to be completed over the next year is expected to provide key inputs for engineering studies that the Company anticipates will lead to a final investment decision for the entire Project in 2026, including mine, process plant and tailings infrastructure.\n \n\n\n Follow on Equity Investment\n \n\n\n In addition to its initial C$4.2 million subscription that closed on December 19, 2024, LNS agreed to subscribe for an additional C$2.2 million of Blue Moon common shares upon the occurrence of two milestones, the first being the start of LNS underground mobilization at the Project, and the second being the date that is 10 months thereafter. With the Company achieving the first milestone, LNS subscribed for 376,833 common shares of Blue Moon at a price of C$3.00 per share for aggregate gross proceeds of C$1.13M (the “\n \n Financing\n \n ”).\n \n\n The Financing was approved by the TSX Venture Exchange (“\n \n TSXV\n \n ”) and closed on May 8, 2025. 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 will be used for underground development at the Project.\n \n\n\n Engagement of Red Cloud Securities Inc.\n \n\n\n Blue Moon has retained Red Cloud Securities Inc. (“\n \n Red Cloud\n \n ”) to provide market stabilization and liquidity services in ...

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