Nord Precious Metals Mining Inc. (TSX.V: NTH) closed a non-brokered private placement of 8,888,888 flow-through shares priced at $0.18 each on October 7, 2026, for gross proceeds of $1,600,000. The announcement, issued from the company's Cobalt, Ontario office, states the financing remains subject to final acceptance by the TSX Venture Exchange.
The release states that proceeds will be used for exploration on the company's Castle East project, and that the spending will qualify as Canadian exploration expenses and as flow-through critical mineral mining expenditures. It gives no further detail on the exploration program itself — no target, no budget breakdown and no timeline beyond the financing's close.
Finders are to be paid $112,000 in cash — 7% of the gross proceeds — and issued 622,222 non-transferable warrants, also calculated at 7%, each exercisable at $0.18 per share for two years from closing, subject to exchange approval. All securities in the placement, including the finder's warrants, are subject to a hold period of four months and one day, expiring February 8, 2027, and the financing as a whole remains conditional on final TSX Venture Exchange acceptance.
The release names Frank J. Basa as chief executive officer and Wayne Cheveldayoff as the company's corporate communications contact. Nord Precious Metals, which trades as TSX.V: NTH, OTCQB: NPMMF and FSE: QN3, describes itself as focused on silver recovery and exploration in Ontario's Cobalt-Gowganda mining camp, where it also operates the TTL Laboratories processing facility; Castle East is the target of this round of spending.
The release does not disclose a drilling program, a budget breakdown within the $1,600,000, or a timeline for exploration results at Castle East. It is a financing disclosure rather than a technical one, and what the money will find at the project is not addressed.