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NexMetals Welcomes Condire As a New 9.9% Shareholder and Announces Closing of $80 Million Public Offering
Vancouver, British Columbia--(Newsfile Corp. - November 17, 2025) - NexMetals Mining Corp. (TSXV...
About this update from Nexmetals Mining Corp.
[{"type":"text","content":"NexMetals Welcomes Condire As a New 9.9% Shareholder and Announces Closing of $80 Million Public OfferingVancouver, British Columbia--(Newsfile Corp. - November 17, 2025) - NexMetals Mining Corp. (TSXV: NEXM) (NASDAQ: NEXM) (the \"Company\" or \"NEXM\") is pleased to announce the successful closing of its previously announced \"best efforts\" public offering (the \"Offering\") of units of the Company (\"Units\") at a price of C$5.70 per Unit for aggregate gross proceeds of C$80,000,070. SCP Resource Finance LP, as sole bookrunner, and Raymond James Ltd. acted as co-lead agents, on their own behalf and on behalf of a syndicate of agents in connection with the Offering (collectively, the \"Agents\").Each Unit consists of one common share of the Company (a \"Common Share\") and one common share purchase warrant (a \"Warrant\"). Each Warrant entitles the holder to acquire one Common Share on or prior to November 17, 2027 at a price of C$8.00.The Offering included a lead order from Condire Investors, LLC (\"Condire\"), an investment firm based in Dallas, Texas, resulting in an approximate 9.9% holding in the Company's issued and outstanding Common Shares immediately following the closing of the Offering (on a non-diluted basis). The Warrants acquired by Condire under the Offering are subject to a blocker provision, which limits Condire's exercise of any Warrants that, upon giving effect to such exercise, would cause the Common Shares owned by Condire to be equal to or exceed 10% of the issued and outstanding Common Shares. The Company is also pleased to report that EdgePoint Investment Group Inc. and its affiliates (together \"EdgePoint\"), a significant shareholder of the Company, participated in the Offering by purchasing 1,578,500 Units for a total investment of approximately C$9 million. Following completion of the Offering, EdgePoint holds approximately 17.6% of the Company's issued and outstanding common shares (on a non-diluted basis). The net proceeds from the Offering are expected to be used to fund the prepayment of the first contingent milestone payment under the Asset Purchase Agreement (\"APA\") for the Selebi and Selkirk mines, the timing of which is planned prior to the end of 2025, to advance exploration and development activities at the Company's mineral assets in Botswana, and for working capital and general corpora...