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Norsemont Mining Announces Closing of 2nd Tranche of Private Placement Led by Rob Mcewen and Other Strategic Investors
News Release - Vancouver, British Columbia – TheNewswire - August 18th, 2025 – Norsemont Mining Inc. (CSE: NOM, OTCQB: NRRSF, FWB: LXZ1) (“NOM” or the “Company”
About this update from Norsemont Mining Inc.
[{"type":"text","content":"News Release - Vancouver, British Columbia – TheNewswire - August 18th, 2025 – Norsemont Mining Inc. (CSE: NOM, OTCQB: NRRSF, FWB: LXZ1) (“NOM” or the “Company”) is pleased to announce that legendary mining investor Rob McEwen, Chairman and Chief Owner of McEwen Inc. (TSX: MUX, NYSE: MUX) led this strategic round and further to its news release dated August 1, 2025, it has closed the second tranche of a non-brokered private placement consisting of 2,320,000 units of the Company at CAD $0.60 per unit for gross proceeds of CAD $1,392,000 (the “Offering”). Each Unit will consist of one common share and one-half of one Warrant. Each Warrant entitles the holder to acquire one common share at a price of CAD $0.75 per common share for a period of two years from the date of closing (the “Warrants”). In the event that the Company’s common shares close at a price on the Exchange of CAD $1.25 or greater per common share for a period of 10 consecutive trading days after four months and one day from the closing of the Offering, the Company may accelerate the expiry of the Warrants by giving notice to the holders thereof (by disseminating a news release advising of the acceleration of the expiry date of the Warrants) and, in such case, the Warrants will expire on the ten (10th) business day after the date of such notice. For Canadian investors, there is a hold period of four months and one day from the issuance of the Units. For United States investors they will additionally be subject to hold periods as required by applicable federal and “blue sky” securities laws. The Company paid aggregate finder’s fees of $68,060 (excluding GST) and issued 109,433 finder warrants (each, a “Finder Warrant”) to eligible finders in connection with the first 2 tranches of the offering. The Finder Warrants entitle the holder to purchase one additional (Warrant Share) at an exercise price $0.75 per Warrant Share for a period of 2 years following closing. The proceeds of the Offering are anticipated to be used for phase 3 drill programs which will include DDH deep 600m holes into copper porphyry zone, 300m drill holes into high grade gold zones and shallow holes into oxide / leachable gold zone, metallurgy and general working capital, in order to advance the Choquelimpie Gold-Silver-Copper project in Northern Chile. The Offerings are subject to compl...