NexMetals Upsizes Public Offering From C$50 Million To C$65 Million For 11,403,509 Units At C$5.70 Each, Warrants Priced At C$8.00

NexMetals Announces C$65 Million Public Offering of Units

 

 

Upsized from $50 Million Due to Strong Demand

 

Vancouver, British Columbia, October 28, 2025 – NexMetals Mining Corp. (TSXV:NEXM) (NASDAQ:NEXM) (the "Company" or "NEXM") is pleased to announce a "best efforts" public offering (the "Offering") pursuant to an agreement with certain agents as co-lead agents ("Co-Lead Agents"), on their own behalf and on behalf of a syndicate of one or more additional agents, of up to 11,403,509 units of the Company (the "Units" or "Offered Securities") at a price of C$5.70 per Unit for aggregate gross proceeds of up to C$65 million.

 

Each Unit will consist of one common share of the Company (each, a "Common Share") and one common share purchase warrant of the Company (each, a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share for a period expiring 24 months following the date of issuance at a price of C$8.00.

 

The net proceeds from the Offering are expected to be used to fund the prepayment of the first contingent milestone payment under the Asset Purchase Agreement ("APA") for the Selebi and Selkirk mines, the timing of which is planned prior to the end of 2025, to advance exploration and development activities at the Company's mineral assets in Botswana, and for working capital and general corporate purposes.

 

The Offered Securities will be sold by way of a short-form prospectus in each of the provinces of Canada, except Quebec. The Units will also be offered (i) in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the U.S. Securities Act, and (ii) in such other jurisdictions outside of Canada and the United States provided that a placement therein does not give rise to any prospectus, registration or continuous disclosure obligations on the part of the Company (collectively, the "Selling Jurisdictions").

 

The Company has granted to the Co-Lead Agents an option (the "Over-Allotment Option") to purchase up to that number of additional Offered Securities which equal to 15% of the Offered Securities issued pursuant to the Offering to cover over-allotments and for market stabilization purposes. The Over-Allotment Option will be exercisable in whole or in part, at any time and from time to time, for a period of 30 days from and including the Closing Date (as defined herein).

 

In connection with the Offering, the Company has agreed to pay to the Agents a cash fee equal to 6% of the gross proceeds of the Offering (including upon any exercise of the Over-Allotment Option), subject to a reduced cash fee equal to 2.0% payable in respect of sales to certain individuals on a "president's list" for gross proceeds of up to C$5 million.

 

The Offering is expected to close on or about November 13, 2025 (the "Closing Date") and remains subject to the receipt of all necessary approvals.