Vancouver, British Columbia – TheNewswire - August 1, 2025 – Norsemont Mining Inc. (CSE: NOM, OTCQB: NRRSF, FWB: LXZ1) (“NOM” or the “Company”) is pleased to announce that it is undertaking a nonbrokered private placement of up to seven million units (each, a “Unit”) of the Company at a price of CAD $0.60 (USD$0.44) per Unit for gross proceeds of up to CAD $3,500,000 with an overallotment of up to 20% of the offering (the “Offering”). Each Unit will consist of one common share and one-half of one Warrant. Each Warrant entitles the holder to acquire one common share at a price of CAD $0.75 (USD $0.55) per common share for a period of two years from the date of closing (the “Warrants”). The Company anticipates closing the first tranche of $2,000,000 on August 11, 2025, subject to the standard five-day notice period required by the Canadian Securities Exchange (the “Exchange”).
In the event that the Company’s common shares close at a price on the Exchange of CAD $1.25 (USD $0.92) or greater per common share for a period of 10 consecutive trading days after four months and one day from the closing of the Offering, the Company may accelerate the expiry of the Warrants by giving notice to the holders thereof (by disseminating a news release advising of the acceleration of the expiry date of the Warrants) and, in such case, the Warrants will expire on the ten (10th) business day after the date of such notice. For Canadian investors, there is a hold period of four months and one day from the issuance of the Units. For United States investors they will additionally be subject to hold periods as required by applicable federal and “blue sky” securities laws.
The proceeds of the Offering are anticipated to be used for phase 3 drill programs which will include DDH deep 600m holes into copper porphyry zone, 300m drill holes into high grade gold zones and shallow holes into oxide / leachable gold zone, metallurgy and general working capital, in order to advance the Choquelimpie Gold-Silver-Copper project in Northern Chile.
The Offerings are subject to compliance with CSE policies.
Marc Levy, CEO and Chairman of Norsemont, said, “I am excited to welcome several new strategic investors from both North and South America, along with key existing investors, to participate in this financing. Their support is a strong endorsement of our vision and will enable us to advance our Choquelimpie project through upcoming drilling and technical programs scheduled for this year.”
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
Engagement of Marketing Consultants
The Company has engaged Danayi Capital Corp. (“Danayi”), an arm’s-length service provider, to provide the Company with certain investor relations and digital marketing services, in accordance with the policies of the CSE and applicable securities laws. Based at 710-1030 West Georgia, BC V6E 2Y3 (e-mail: mehran@danayi.co; tel: 604-767-2983), Danayi specializes in marketing, advertising and public awareness within the mining and metals sector. Under a digital marketing agreement dated August 1, 2025, Danayi will provide digital media, marketing strategies and advertising for a trial period of one month at a fee of USD$50,000. The Company may extend the agreement at its discretion for up to 6 months. The engagement is subject to the approval of the CSE. Danayi does not currently have any direct or indirect interest in the Company or its securities and has no intention or right to acquire such an interest during the engagement.
Additionally, the Company announces that it has entered into a digital marketing services agreement with Altura Media Co Inc. (“Altura”), for a monthly fee of CAD$20,000 for marketing services. The Company agreed to a minimum initial term of one (1) month, with the option to extend the agreement on a month-to-month basis for up to five (5) additional months, subject to mutual agreement and subject to CSE approval, to commence on August 15, 2025. Under the agreement, Altura will provide a comprehensive suite of services, including digital advertising, media creation, social media marketing and shareholder communications. Altura and its principals have an arm’s length relationship with the Company. Altura has a business address at 1500-1055 West Georgia St., Vancouver BC V6E 4N7 and may be contacted via e-mail at contact@alturamedia.co or by telephone at 778-988-5503. Altura does not currently have any direct or indirect interest in the Company or its securities and has no intention or right to acquire such an interest during the engagement.
Pursuant to its equity incentive plan, the Company has granted 50,000 restricted share units to a geological consultant of the Company. The RSUs vest immediately. The RSUs, as well as any common shares issued upon settlement or exercise thereof, are subject to a statutory hold period of four months and one day from the date of grant.
On Behalf of the Board,
NORSEMONT MINING INC.
Marc Levy
CEO & Chairman
About Norsemont Mining Inc.
The Norsemont team comprises experienced natural resource professionals focused on growing shareholder value and developing its flagship project through to bankable feasibility, with an initial mineral resource estimate of 2,184,000 indicated gold equivalent ounces and 557,000 inferred gold equivalent ounces for its Choquelimpie Gold-Silver-Copper project. Norsemont Mining owns a 100% interest in the Choquelimpie gold-silver-copper project in northern Chile, a previously permitted gold and silver mine with significant exploration upside. Choquelimpie has over 1,700 drill holes, with significant existing infrastructure, including roads, power, water, camp and a 3,000-tonne-per-day mill. Norsemont is committed to responsible and sustainable resource development, leveraging modern exploration techniques to unlock further value for all stakeholders.
For more information, please contact the Company at:
Investor Relations:
Paul Searle (778) 240-7724
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the Offering and entry into the marketing agreements.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the Company not receiving the necessary regulatory approvals in respect of the Offering and marketing agreements contemplated herein and, with respect to the Offering, risks adverse to the capital markets, the mining industry, and investor support. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will receive the necessary regulatory approvals and receive market interest to close the Offering on the terms herein.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, except as required by applicable securities laws.
