Northisle secures $115 million in financing with Wheaton participation

Northisle Copper and Gold Inc. (TSX-V: NCX) announced it will raise up to $115 million through combined public and private offerings, including a $5 million investment from Wheaton Precious Metals Corp.

The financing consists of a brokered offering led by Paradigm Capital Inc. that will issue up to 36.1 million common shares, and a non-brokered private placement of 1.6 million shares to Wheaton Precious Metals. All shares are priced at $3.05 each.

Paradigm exercised its option to sell an additional 2.2 million shares, bringing the brokered offering to $110 million. The agents will receive no compensation for the Wheaton placement.

The company stated proceeds will fund advancement of its projects and general corporate purposes. The North Island Project, located near Port Hardy, British Columbia, spans over 34,000 hectares and contains copper and gold deposits.

Closing is expected around March 6, 2026, subject to regulatory approvals including from the TSX Venture Exchange. The brokered public offering will be available across Canadian provinces except Quebec through a prospectus supplement.

Shares from the private placements will be subject to a four-month hold period. The company noted that shares have not been registered under U.S. securities laws and cannot be offered in the United States without proper registration or exemption.

Since 2021, Northisle has discovered two deposits at the North Island Project and expanded resources while demonstrating economic potential. The project is located on the same geological belt as the former Island Copper Mine previously operated by BHP Billiton.

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