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Norsemont Mining Announces First Tranche Closing of Convertible Debenture Financing
News Release - Vancouver, British Columbia – TheNewswire - December 21, 2025 – Norsemont Mining Inc. (CSE: NOM, OTC: NRRSF, FWB: LXZ1) (“NOM” or the “Company”)
About this update from Norsemont Mining Inc.
[{"type":"text","content":"News Release - Vancouver, British Columbia – TheNewswire - December 21, 2025 – Norsemont Mining Inc. (CSE: NOM, OTC: NRRSF, FWB: LXZ1) (“NOM” or the “Company”) is pleased to announce that, further to its December 7, 2025 news release, it has closed the first tranche of its non-brokered private placement (the “Offering”) of unsecured convertible debenture units of the Company (each, a “Convertible Debenture Unit”). The Company issued US$7,529,000 (approximately CAD$10,375,715) of principal amount of Convertible Debentures (as defined below) and issued 6,035,258 Warrants (as defined below) for aggregate gross proceeds of US$7,529,000 (approximately CAD$10,375,715). Norsemont CEO Marc Levy commented, “This significant financing positions the Company to advance its 2026 drill program, progress the Choquelimpie near-term production strategy, and complete the proposed stockpile PEA. Our long-term European and offshore strategic investors have demonstrated ongoing support and have expressed interest in providing additional capital as the project advances.” The Company also announces that the terms of the Offering have been amended, from gross proceeds of up to C$10,000,000 with a 30% over-allotment option as previously disclosed, to gross proceeds of up to US$10,000,000 (approximately CAD $13,794,400). The proceeds from the Offering are expected to be used for general working capital purposes, as well as mineral exploration and advancement of the Company’s Choquelimpie gold-silver-copper project. 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 C$0.86 per Conversion Share, 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 C$1.00 per Warrant Share for a period of three years from the closing date of the first tranche 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 dat...