Blue Moon Metals receives C$1.2M investment from mining contractor

Blue Moon Metals Inc. (NASDAQ: BMM) announced that Leonhard Nilsen & Sønner AS, the company's mining contractor at the Nussir copper-gold-silver project in Norway, has subscribed to 168,514 common shares at $7.208 per share.

This investment follows LNS' initial C$4.2 million subscription that closed on December 19, 2024, and a C$1.13 million subscription that closed on May 8, 2025, which was triggered by the start of LNS underground mobilization at the Nussir project.

The financing is subject to approval by the TSX Venture Exchange and is expected to close on or about March 17, 2026. No finder's fees were paid in connection with the financing. The common shares issued will be subject to a statutory 4-month and one day hold period from the date of issuance.

Blue Moon stated the proceeds from the financing are expected to be used for underground development at the project.

The company is advancing five brownfield polymetallic projects, including the Nussir copper-gold-silver project in Norway, the NSG copper-zinc-gold-silver project in Norway, the Blue Moon zinc-gold-silver-copper project in the United States, the Springer tungsten-molybdenum project in the United States, and the Apex germanium-gallium-copper project in the United States.

Major shareholders include funds managed by Oaktree Capital Management, Hartree Partners LP, Wheaton Precious Metals, Altius Minerals Corporation, Baker Steel Resources Trust, LNS and Monial, according to the company statement.

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