Northern Discovery Metals plans C$1.5M private placement

Northern Discovery Metals Inc. (CSE: NOR, FSE: M1V0) announced a non-brokered private placement targeting aggregate gross proceeds of up to C$1,500,000, according to a company statement.

The offering consists of two tranches. Non-flow-through units will be priced at C$0.75 each, with the company seeking up to C$1,000,000 in gross proceeds. Each unit includes one common share and one-half of a share purchase warrant, with each whole warrant exercisable at C$0.95 for 24 months.

Flow-through units will be priced at C$0.90 each, targeting up to C$500,000 in gross proceeds. Each unit includes one flow-through common share and one-half of a share purchase warrant, with each whole warrant exercisable at C$1.10 for 24 months.

The company states it intends to use proceeds from the non-flow-through units for exploration expenses and general working capital, including investor relations. Proceeds from the flow-through units are intended to fund eligible Canadian exploration expenses qualifying as flow-through mining expenditures under Canada's Income Tax Act.

The offering is expected to close on or about Nov. 16, 2026, subject to regulatory approvals including from the Canadian Securities Exchange. All securities issued will carry a statutory hold period of four months and one day from the date of issuance.

Northern Discovery Metals is a mineral exploration company focused on Canadian mineral properties, currently exploring for copper at its Vent Copper Project on Vancouver Island, British Columbia.

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