Nexcel updates private placement offering for up to $3.5 million

Nexcel Metals Corp. (CSE: NEXX) (OTCQB: NXXCF) (FSE: 2OH) provided an update on its non-brokered private placement for aggregate gross proceeds of up to $3.5 million, according to a company statement.

The offering consists of up to 1,190,476 flow-through units at $0.42 per unit for gross proceeds of up to $500,000, and up to 8,571,428 non-flow-through units at $0.35 per unit for gross proceeds of up to $3 million.

Each flow-through unit includes one flow-through common share and one warrant exercisable at $0.50 for 24 months. Each non-flow-through unit contains one common share and one warrant exercisable at $0.45 for 24 months.

The company received shareholder approval through written consent from holders of more than 50% of outstanding common shares as of November 7, 2025, as required by Canadian Securities Exchange Policy 4 due to the potential issuance of more than 100% of current outstanding shares.

Proceeds from flow-through units will fund Canadian exploration expenses on the Lac Ducharme Property in Quebec and the Burnt Hill Property in New Brunswick. Net proceeds from non-flow-through units will support additional exploration work and general administrative expenses.

The private placement is expected to close on or about December 5, 2025, subject to customary conditions. All securities will be subject to a statutory hold period of four months and one day from the closing date.

Nexcel is a junior mining company focused on mineral property acquisition, exploration and development, with current operations centered on properties in Quebec and New Brunswick.

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