Nexcel raises $2.5 million in public offering of common shares

Nexcel Metals Corp. (CSE: NEXX) (OTCQB: NXXCF) (FSE: 2OH) completed a brokered public offering of 2,510,000 common shares at $1.00 per share, raising gross proceeds of $2.51 million. Research Capital Corporation served as lead agent and bookrunner for the transaction.

The Vancouver-based mineral exploration company plans to use the net proceeds for exploration at its Burnt Hill Property, option agreement payments for the Lac Ducharme Property, administrative costs, and general working capital. The offering was conducted under a prospectus supplement dated April 29, 2026.

"The Offering was structured to provide the Company with sufficient capital to remain fully funded through the remainder of 2026 and beyond while minimizing shareholder dilution," said Hugh Rogers, Chief Executive Officer.

As compensation, Nexcel paid the agent a cash commission of $175,700 and issued 175,700 broker warrants exercisable at $1.15 per share for 24 months. The company also paid a corporate finance fee of $50,000 in cash and $25,000 in shares at the offering price.

The agent received an over-allotment option to arrange for the sale of up to 376,500 additional shares at the offering price, exercisable for 30 days following the closing for over-allotment coverage and market stabilization.

Nexcel focuses on rare earth elements and critical minerals in Canada, advancing the Lac Ducharme rare earth element project in Quebec and the Burnt Hill tungsten molybdenum tin project in New Brunswick.

The prospectus supplement was filed in all Canadian provinces except Quebec. The securities have not been registered under U.S. securities laws.

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