Norsemont Mining Announces $10 Million Financing With Strategic Investors

About this update from Norsemont Mining Inc.

[{"type":"text","content":"Vancouver, B.C., December 8, 2025 – Norsemont Mining Inc. (CSE: NOM, OTC: NRRSF, FWB: LXZ1) (“Norsemont” or the “Company”) is pleased to announce it is undertaking a CAD$10 million non­brokered private placement of unsecured convertible debenture units of the Company (each, a “Convertible Debenture Unit”) with an overallotment of up to 30% of the offering (the “Offering”). Each Convertible Debenture Unit is comprised of one convertible debenture in the principal amount of US$1,000 per debenture (each, a “Convertible Debenture”), with each Convertible Debenture and all accrued and unpaid interest thereon convertible into common shares of the Company (each, a “Conversion Share”) at a conversion price of CAD$0.86 per Conversion Share (the “Conversion Price”), and 802 transferable common share purchase warrants (each, a “Warrant”), with each Warrant entitling the holder thereof to purchase one common share (a “Warrant Share”) at a price of CAD$1.00 per Warrant Share for a period of three years from the closing date of the Offering (the “Closing Date”), subject to acceleration rights for both the Convertible Debentures and the Warrants. The Convertible Debentures bear interest at a rate of 5.25% per annum with a maturity date of three years from the Closing Date (the “Maturity Date”). Additionally, the Convertible Debentures includes a gold purchase right whereby, upon commercial production and for a period of one year from commercial production, the subscriber may purchase gold from the Company at a fixed price of US$3,000 per ounce, up to the subscription amount of the subscriber. The Company anticipates closing the financing on December 17, 2025, subject to the standard five-day notice period required by the Canadian Securities Exchange (the “Exchange”). At any time after the date that is four months and one day after the Closing Date, if, for at least 10 consecutive trading days, the closing price of the common shares of the Company (each, a “Common Share”) on the Exchange for each day during such period exceeds CAD$3.00 per Common Share, then the Company may issue a notice by public news release (the “Debenture Forced Conversion Notice”) to the holders to automatically convert the Convertible Debentures together with all accrued and unpaid interest thereon into Common Shares on the date which is 10 days after the date of th...

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