Blue Moon Gains C$1.2M Investment from Contractor for Nussir Project
Blue Moon secured a C$1.2 million follow-on investment from mining contractor LNS through the subscription of 168,514 common shares at C$7.208 each, bolstering project funding. Proceeds will finance underground development at Nussir, with TSXV approval expected and closing slated for March 17, 2026.
1. Follow-On Investment by LNS
Blue Moon Metals announced that Leonhard Nilsen & Sønner AS subscribed to 168,514 common shares at C$7.208 each, raising C$1.2 million in additional investment for the Nussir project. This follows two earlier subscriptions by the contractor totaling C$5.33 million.
2. Previous Funding Rounds
The C$1.2 million financing adds to an initial C$4.2 million subscription closed in December 2024 and a C$1.13 million subscription closed in May 2025, both tied to underground mobilization milestones at Nussir.
3. Use of Proceeds and Closing Conditions
Proceeds from the latest financing are earmarked for underground development at Nussir. The issuance remains subject to TSXV approval and is expected to close around March 17, 2026, with a four-month statutory hold on new shares.