Business
Borealis Receives Proceeds of CAD$9 Million from Exercises
Toronto, Ontario--(Newsfile Corp. - September 23, 2025) - Borealis Mining Company Limited (TSXV: ...
About this update from Borealis Mining Company Limited
[{"type":"text","content":"Borealis Receives Proceeds of CAD$9 Million from ExercisesToronto, Ontario--(Newsfile Corp. - September 23, 2025) - Borealis Mining Company Limited (TSXV: BOGO) (FSE: L4B0) (OTC Pink: BORMF) (the \"Company\" or \"Borealis\") is pleased to announce that it has received total proceeds (as at September 19, 2025) of CAD$9,060,278.84 from the proceeds of exercises of warrants, broker warrants and compensation options, many of which were set to expire on September 14, 2025. The Company has issued an aggregate of 12,616,025 common shares through the process, significantly enhancing its cash position, and tightening up its capital structure.Kelly Malcolm, President and Chief Executive Officer of Borealis, states, \"We're very pleased with the support shown from our existing shareholders through the exercise of these warrants, broker warrants and compensation options. The Company is in a very strong financial position which should provide us with all the required capital to resume full production at the Borealis minesite. I look forward to updating the market with our plans to start adding to the treasury through revenue from the steady production of gold from our fully built and permitted facility.\"Qualified Person and QA&QCThe scientific and technical content of this news release was reviewed, verified, and approved by Kelly Malcolm, P.Geo., Chief Executive Officer of the Company, and a Qualified Person as defined by Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Borealis Mine The Borealis mine property, located close to the town of Hawthorne, NV, is fully permitted and equipped for present mine operations and future expansion, with existing open pits, heap leach pads, modern infrastructure, and a functional ADR facility which produces doré bars. The project has historically produced over 600,000 ounces of gold from an open pit heap leach operation. It is an under-explored property and has not been drilled since 2011, aside from Borealis' modest efforts in 2024 and 2025. The property possesses high grade expansion potential with excellent historical drilling results, along with a number of untested regional targets.The Borealis Project holds existing federal and state permits for mining and processing operations. However, certain permit modifications may be requi...