First Nordic Raises C$80 Million Through Private Placements

First Nordic Metals Corp. has successfully closed both its non-brokered and brokered private placements, securing approximately C$80 million. The non-brokered private placement raised C$68 million through the issuance of 178,947,368 subscription receipts, while the brokered placement, led by Desjardins Capital Markets, generated C$12 million with 31,578,947 receipts.

These funds will support exploration projects of NordCo Gold, following First Nordic’s planned acquisition of Mawson Finland Limited. The acquisition will see Mawson's outstanding shares acquired by First Nordic, pending shareholder and court approvals expected in December 2025. Subscription receipts from these offerings will convert into shares at the transaction closure.

Proceeds are designated for exploration, transaction-related costs, and general operational purposes. Approvals from the TSX Venture Exchange and other conditions remain pending.