NGEx Minerals to sell 4M shares in private placement to raise C$100M

NGEx Minerals (OTCQX:NGXXF [https://seekingalpha.com/symbol/NGXXF]) has been planning to secure up to C$100 million [https://seekingalpha.com/pr/20248103-ngex-minerals-announces-c-100-million-private-placement] in gross proceeds through a non-brokered private placement. The company intends to sell up to 4,000,000 common shares at a price of C$25.00 per share.

The issuance of the shares will occur under prospectus exemptions and will be subject to a statutory hold period of four months and one day.

The company may also pay a finder’s fee of 5% on a portion of the transaction.

The private placement is subject to all necessary regulatory approvals, and is expected to close as soon as practicable.

NGEx Minerals intends to use the net proceeds from the Private Placement are designated primarily for advancing NGEx's flagship projects in South America. The funds raised will be allocated to several key areas: furthering exploration at the Lunahuasi project in Argentina (including potential adit construction and RIGI application support), continuing exploration and maintenance at the Los Helados project in Chile, and covering general corporate and working capital needs.

The Lundin Family Trusts intend to subscribe for up to C$100.0 million of the Private Placement to maintain their significant interest in NGEx Minerals.

The company expects to complete its private placement prior to the anticipated Q4 2025 spin-out of LunR Royalties. In the spin-out (approved by shareholders and court), each shareholder will receive one new NGEx share and 1/4 of a LunR Royalties share. The early closing ensures that shares from the private placement will fully participate in the upcoming Arrangement.

MORE ON NGEX MINERALS LTD.

* NGEx Minerals Ltd. (NGEX:CA) Analyst/Investor Day - Slideshow [https://seekingalpha.com/article/4826014-ngex-minerals-ltd-ngex-ca-analyst-investor-day-slideshow]
* NGEx receives court approval for the spin-out of royalties [https://seekingalpha.com/news/4496413-ngex-receives-court-approval-for-the-spin-out-of-royalties]
* Historical earnings data for NGEx Minerals Ltd. [https://seekingalpha.com/symbol/NGEX:CA/earnings]
* Financial information for NGEx Minerals Ltd. [https://seekingalpha.com/symbol/NGEX:CA/income-statement]