Northern Discovery Metals Announces Private Placement of Up to CA$1.5 Million

05:25 PM EDT, 10/19/2026 (MT Newswires) -- Northern Discovery Metals (NOR.CN) after market close Monday said it plans to raise up to CA$1.5 million through a non-brokered private placement of non-flow-through and flow-through units. The company will offer non-flow-through units at CA$0.75 each for gross proceeds of up to CA$1 million. Each unit is made up of a share and one-half of a two-year warrant to buy a share for CA$0.95, Northern Discovery will also offer flow-through units at CA$0.90 each for gross proceeds of up to CA$500,000. Each unit will consist of a tax-advantaged share and one-half of a warrant, with each whole warrant exercisable at CA$1.10 per share for 24 months. The company aims to use the net proceeds from the sale of the non-flow-through units for exploration expenses and for general working capital purposes. While it intends to use the proceeds from the sale of the flow-through shares to incur eligible "Canadian exploration expenses". The offering is expected to close on or about Nov. 16, 2026.