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CALGARY, Alberta, July 02, 2026 (GLOBE NEWSWIRE) — Northern Discovery Metals Inc. (the “Company” or “Northern Discovery”) is pleased to announce that it has closed a non-brokered private placement offering of 4,900,000 units (the “Units”) of the Company at a price of $0.25 per Unit for gross proceeds of $1,225,000 (the “Offering”).
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Each unit consists of one (1) common share (“Share”) and one (1) Share purchase warrant (“Warrant”), with each Warrant entitling the holder to acquire one (1) Share (“Warrant Share”) at a price of $0.40 for a period of 36 months.
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The Company intends to use the proceeds raised from the Offering for general working capital purposes. All securities issued in connection with the Offering are subject to a hold period expiring October 31, 2026. In connection with the closing of the Offering, an aggregate of $9,600 was paid in cash as finder’s fees, the Company also issued 38,400 non-transferable finder’s warrants (the “Finder’s Warrants”). Each Finder’s Warrant entitles the holder to purchase one (1) additional Share (“Finder’s Warrant Share”) at a price of $0.40 for a period of 36 months.
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The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, or in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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On Behalf of the Board of Directors
Jared Suchan
Chief Executive Officer and Director
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Contact
Phone: (604) 294 3020
Email: [email protected]
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Forward-Looking Statements
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Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. In particular, this news release contains forward-looking information relating to, among other things, the Offering, including the expected use of proceeds from the Offering.
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Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, the assumption that the Company will use the proceeds of the Offering as anticipated.
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