Nations Royalty closes C$15 million private placement offering

Nations Royalty Corp. (TSXV: NRC) (OTCQB: NRYCF) (FSE: Y96) announced the closing of its bought deal private placement for gross proceeds of C$15 million, including the full exercise of an over-allotment option.

The company sold 9,375,000 units at C$1.60 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at C$2.25 until January 30, 2029.

Red Cloud Securities Inc. served as co-lead underwriter and sole bookrunner, alongside Canaccord Genuity Corp. The underwriters received aggregate cash fees of C$873,600 and 546,000 non-transferable broker warrants exercisable at the offering price until January 30, 2029.

The units were issued to Canadian purchasers under the listed issuer financing exemption of National Instrument 45-106. Units sold to Canadian residents are immediately freely tradeable under applicable securities legislation.

The closing remains subject to final approval from the TSX Venture Exchange. The securities have not been registered under U.S. Securities Act of 1933 and may not be offered or sold in the United States without registration or applicable exemption.

Nations Royalty focuses on combining royalties and benefit payment entitlements from resource projects with First Nations and Indigenous groups across Canada. The company holds annual benefit payment entitlements from five properties, including the Brucejack gold mine operated by Newmont Corporation and the KSM deposit being developed by Seabridge Gold Inc.

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