Newmont buys 3,224,700 Metallic Minerals units in $902,916 private placement at $0.28 each - NEM News | RalliesNewmont buys 3,224,700 Metallic Minerals units in $902,916 private placement at $0.28 each
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NEM• Private placement terms
- Metallic Minerals completed a non-brokered private placement with Newmont, issuing 3,224,700 units at $0.28 per unit for $902,916.
- Each unit includes one common share and one-half warrant; each whole warrant is exercisable at $0.40 for 36 months from 61 days post-close.
- The financing maintained Newmont’s ownership at about 9.2% under participation rights tied to a May 18, 2023 investor rights agreement.
- Proceeds are earmarked for exploration and development at the La Plata project in Colorado, with remaining funds for working capital.
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