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New Age Metals Closes Private Placement For A Total Of $4 Million With Eric Sprott Subscribing For $2 Million In The First Tranche
(TheNewswire) October 17, 2025 , Vancouver, BC – TheNewswire - New A...
About this update from New Age Metals Inc
[{"type":"text","content":"New Age Metals Closes Private Placement For A Total Of $4 Million With Eric Sprott Subscribing For $2 Million In The First Tranche\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n October 17, 2025\n \n\n ,\n \n\n Vancouver, BC –\n \n\n TheNewswire -\n \n\n New Age Metals Inc.\n(TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) (“NAM” or the\n“Company”)\n \n\n announces that the Company has\nclosed the third and final tranche of a non brokered private placement\nfinancing by issuing 1,738,845 flow-through units (“FT Units”) at\na price of $0.26 per FT Unit and issuing 747,727 non-flow-through\nunits (“NFT Units”) at a price of $0.22 per NFT Unit for gross\nproceeds in the third tranche of $616,599.64 with an aggregate of\n \n\n $4,000,000 in all\ntranches\n \n\n .\n \n\n\n\n In the first tranche\n \n\n ,\n \n\n Mr. Eric Sprott\nsubscribed for $2,000,000 of the Private Placement for 9,090,910\nunits. Mr. Sprott is the largest shareholder of NAM.\n \n\n\n\n Before todays\nclosing, Mr. Sprott owned approximately 34.37% of the Company on a\npartially diluted basis.\n \n\n\n\n Highlights of the Company\n \n\n\n\n\n\n The Company’s flagship asset is the\n \n\n River Valley Palladium-Platinum\nProject\n \n\n ,\n \n\n located in the Sudbury Mining District, and is\n \n\n one of the largest undeveloped primary\npalladium Projects in North America\n \n\n . The River\nValley PGM Project currently is at the development stage, having\nreleased a Preliminary Economic Assessment (PEA) in 2023. The Project\nhas multiple drill targets that were recommended from the recent PEA.\n \n\n\n\n\n\n Price of\n \n\n palladium is\n \n\n up ~74% in the\nlast 6 months\n \n\n , and price\n \n\n of platinum is up ~79% in the last 6\nmonths\n \n\n .\n \n\n\n\n\n\n Eric Sprott currently owns approx.\n34.37% of New Age Metals\n \n\n on a partially diluted\nbasis before the closing of todays third tranche.\n \n\n\n\n\n\n Phase 2 of the Newfoundland Gold-Antimony Division\nsummer/fall field program is currently underway,\n \n\n\n\n with a\nphase 1 grab sample returning as high as 15.2%\nSb\n \n\n\n\n (antimony) from Antimony Ridge.\n \n\n\n\n\n\n The Company is awaiting assay results from the summer\nPhase 1 field program on its 100% owned road accessible Genesis...