NVRO Metals (TSX-V:NVRO) expects to close a private placement of up to C$35 million ($35.49 million) around 27 October to fund an acquisition
ATB Cormark Capital Markets and Cantor Fitzgerald Canada are acting as co-lead agents. The offering covers up to 269,231,000 units at C$0.13 each, which is below the C$0.155 close on 19 October.
Each unit comprises one common share and one warrant, allowing the holder to buy one share at C$0.18 for 36 months after closing.
Agents hold an option to buy up to an additional 15% of the units at the offer price, lifting gross proceeds to about C$40.25 million if fully exercised.
Strategic investors, including Kewa Financial, Transamine SA, and Hecla Mining (NYSE:HL), are expected to support the offering.
Hecla is expected to invest directly through a concurrent non-brokered private placement, with all strategic investments subject to due diligence and definitive agreements.
Net proceeds will finance the acquisition of Northern Territories Resources (NTR) by NVRO Metals (Australia), a wholly owned subsidiary, alongside transaction expenses and working capital.
Closing depends on regulatory approvals, including conditional approval from the TSX Venture Exchange, and conditions in the deed of company arrangement dated 8 June 2026.
Units will be offered privately across Canada under prospectus exemptions and in the US under exemptions from the US Securities Act of 1933. Securities issued carry a four-month hold period in Canada.
NVRO has 533,922,329 shares on issue and a market capitalisation of about C$82.76 million.
NVRO Metals is a clean-technology company that recovers precious, base, and critical metals from refractory sulphidic ores and tailings using its proprietary NVRO Process.
Write to JC Villarba at Mining.com.au
Images: NVRO Metals
