Premium Resources Announces Closing of $46 Million Non-Brokered Equity Financing, Equity Conversion of $20.8 Million of Debt and New Strategic Advisors

About this update from Nexmetals Mining Corp.

[{"type":"text","content":"Premium Resources Announces Closing of $46 Million Non-Brokered Equity Financing, Equity Conversion of $20.8 Million of Debt and New Strategic AdvisorsToronto, Ontario--(Newsfile Corp. - March 18, 2025) - Premium Resources Ltd. (TSXV: PREM) (OTC Pink: PRMLF) (\"PREM\" or the \"Company\") is pleased to announce the closing of the previously announced recapitalization of the Company (see news releases dated February 18 and 20, 2025), including a C$46 million equity private placement (the \"Private Placement\") and the equity conversion of its C$20,882,353 term loan debt (the \"Debt Conversion\") with support from Cymbria Corporation (\"Cymbria\"), the lender and an affiliate of the Company's largest shareholder, EdgePoint Investment Group Inc. (\"EdgePoint\"). The Company received disinterested shareholder approval for the Debt Conversion and the issuance of advisory shares pursuant to the previously announced strategic advisor agreements with Fiore Management and Advisory Corp. (\"Fiore\") and Bowering Projects Ltd. (\"Bowering\" and together with Fiore, the \"Advisors\") by way of consent resolution representing 71.99% approval. $46 Million Private PlacementThe Company has closed its non-brokered Private Placement issuing 153,333,334 units (each, a \"Private Placement Unit\") of the Company at a price of C$0.30 per unit for aggregate gross proceeds of C$46,000,000. Each Private Placement Unit consists of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a \"Private Placement Warrant\") of the Company. Each Private Placement Warrant entitles the holder thereof to acquire one additional common share at a price of C$0.55 per share until March 18, 2028. In connection with the Private Placement, the Company issued 4,000,000 common shares at an issue price of C$0.30 per share to TriView Capital Ltd. for its services as finder and made cash payments totalling C$307,584 to other agents acting as finders under the Private Placement. The net proceeds of the Private Placement are expected to be used by the Company to advance the exploration and development of its mineral assets in Botswana and for general corporate and working capital purposes. $20.8 Million Debt ConversionThe Company issued to Cymbria, an aggregate of 69,607,843 units (each, a \"Settlement Unit\") at a deemed issue pric...

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