Business
Nortec Announces Non-Brokered Private Placement to raise up to C$750,000
Toronto, Ontario--(Newsfile Corp. - November 12, 2025) - NORTEC MINERALS CORP . (TSXV: NVT) ("...
About this update from Nortec Minerals Corp
[{"type":"text","content":"Nortec Announces Non-Brokered Private Placement to raise up to C$750,000Toronto, Ontario--(Newsfile Corp. - November 12, 2025) - NORTEC MINERALS CORP. (TSXV: NVT) (\"Nortec\" or the \"Company\") is pleased to announce that it intends to undertake a non-brokered private placement offering (the \"Offering\"), consisting of up to 7,500,000 units (the \"Units\") at a price of C$0.05 per Unit, for gross proceeds of up to C$375,000 with an over-allotment allocation of up to 15% of the Offering. Each Unit will consist of one common share and one common share purchase warrant (a \"Warrant\") entitling the holder to purchase one additional common share.Additionally, the Company will undertake a non-brokered private placement 'flow-through' offering (the \"FT Offering\"), consisting of up to 5,769,230 units (the \"FT Units\") at a price of C$0.065 per FT Unit, for gross proceeds of up to C$375,000 with an over-allotment allocation of up to 15% of the total FT Offering. Each FT Unit will consist of one common share to be issued on a flow-through basis under the Income Tax Act (Canada) and one Warrant entitling the holder to purchase one (non flow-through) common share.The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes, while net proceeds from the FT Offering are intended to be used for qualifying exploration activities in Ontario, Canada.Warrant Terms Each Warrant shall have a term of 36-months, subject to acceleration;During the first 18-months after closing of the Offering and FT Offering, or any tranche thereof, the exercise price of one full Warrant shall be C$0.065 and thereafter C$0.11 per common share;Pursuant to the terms of the Warrants, if over a period of 10 consecutive trading days (a \"Trading Target\") between the date that is four months and one day following the Closing Date and the expiry date of the Warrants, the volume weighted average price of the Common Shares on the TSX-Venture Exchange or such other stock exchange where the majority of the trading volume occurs, exceeds or is equal to $0.10 (the \"Acceleration Trading Price\"), the Company may, at its sole option, accelerate the expiry date of the Warrants, provided that: (i) the Company disseminates a press release providing notice of its intention to accelerate the expiry date of the Warrants; and (ii) the...