(TheNewswire)
July 22, 2024 – TheNewswire – Coquitlam, BC, Nord Precious Metals Mining Inc., (TSXV: NTH) (OTCQB: CCWOF) (Frankfurt: 4T9B)(the "Company" or "Nord” or “Nord PreciousMetals”), announces today that it intends to consolidate all of itsissued and outstanding common shares on a 10:1 basis (ten old commonshares for each one new common share) (the "Consolidation").
The Company does not intend to change its name or itscurrent trading symbol in connection with the Consolidation. Theeffective date of the Consolidation and the new CUSIP for the commonshares will be announced in the coming days.
In addition, the Company announces a non-brokeredprivate placement (the "Private Placement") of up to3,333,333 units of the Company ("Units") at a price of $0.30per Unit (post-Consolidation) to raise gross proceeds of up to$1,000,000. Each Unit will consist of one post-Consolidation commonshare and one half of one post-Consolidation common share warrant (a"Warrant"). Each Warrant will entitle the holder to acquirea one post-Consolidation common share at a price of $0.50 for threeyears. Finders’ fees may be paid in connection with the PrivatePlacement. All securities issued pursuant to the Private Placementwill be subject to a statutory hold period of four months and one dayfrom closing.
The Company has received shareholder approval to theConsolidation. Completion of the Consolidation and the PrivatePlacement remains subject to the approval of the TSX VentureExchange.
The Company intends to use the proceeds of the PrivatePlacement for exploration on its Castle East Project, Gowganda,Ontario and for general working capital and administrationcosts.
About Nord Precious Metals MiningInc.
Nord Precious Metals Mining Inc. (formerly CanadaSilver Cobalt Works Inc.) recently discovered a major high-gradesilver vein system at Castle East located 1.5 km from its 100%-owned,past-producing Castle Mine near Gowganda in the prolific andworld-class silver-cobalt mining district of Northern Ontario. TheCompany has completed a 60,000 m drill program aimed at expanding thesize of the deposit with an update to the resource estimateunderway.
In May 2020, based on a small initial drill program,the Company published the region’s first 43-101 resource estimatethat contained a total of 7.56 million ounces of silver in Inferredresources, comprising very high-grade silver (8,582 grams per tonneun-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections(1A and 1B) of the Castle East Robinson Zone, beginning at a verticaldepth of approximately 400 meters. Note that mineral resources thatare not mineral reserves and do not have demonstrated economicviability. Please refer to the Nord Precious Metals (previously CanadaSilver Cobalt Works) Press Release May 28, 2020, for the resourceestimate. Report reference: Rachidi, M. 2020, NI 43-101 TechnicalReport Mineral Resource Estimate for Castle East, Robinson Zone,Ontario, Canada, with an effective date of May 28, 2020, and asignature date of July 13, 2020.
The Company also has: (1) 14 battery metals propertiesin Ontario and Northern Quebec where it has recently completed anearly 16,000-metre drill program on the Graal property; and (2) St.Denis-Sangster lithium project – 260 square kilometers of greenfieldexploration ground with numerous pegmatites focussed along asignificant volcanic sedimentary rock – Archean granite contact nearCochrane, Ontario contiguous to Power Metals’ Case Lake Lithiumproperties.
Nord Precious Metal’s flagship silver-cobalt Castlemine and 78 sq. km Castle property feature strong exploration upsidefor silver, cobalt, nickel, gold, and copper. With underground accessat the fully owned Castle Mine, an exceptional high-grade silverdiscovery at Castle East, a pilot plant to produce cobalt-rich gravityconcentrates, a processing facility (TTL Laboratories) in the town ofCobalt, and a proprietary hydrometallurgicalprocess known as Re-2Ox (for the creation of technical-grade cobaltsulphate as well as nickel-manganese-cobalt (NMC) formulations), NordPrecious Metals is strategically positioned to become a Canadianleader in the silver-cobalt space. More information is available at
www.nordpreciousmetals.com
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“Frank J. Basa”
Frank J. Basa, P. Eng. Professional EngineerOntario
Chief Executive Officer
For further information, contact:
Frank J. Basa
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.com
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Caution Regarding Forward-LookingStatements
This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from thosestatements. General business conditions are factors that could causeactual results to vary materially from forward-looking statements. The Company does notundertake to update any forward-looking information in this newsrelease or other communications unless required by law.
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