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First Nordic Announces C$10 Million "Bought Deal" Private Placement of Units

/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

VANCOUVER, British Columbia, Oct. 30, 2024 (GLOBE NEWSWIRE) -- First Nordic Metals Corp. (the "Company" or "FNM") ((TSX.V: FNM, OTCQB:FNMCF, Germany: HEG0)) is pleased to announce that it has entered into an agreement with Haywood Securities Inc. ("Haywood"), as lead underwriter and sole bookrunner, on its own behalf and on behalf of a syndicate of underwriters including Ventum Financial Corp. (together with Haywood, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a "bought deal" private placement basis 30,304,000 units (the "Offered Units") of the Company at a price of C$0.33 per Offered Unit (the "Issue Price") for aggregate gross proceeds to the Company of C$10,000,320 (the "Offering").

Each Offered Unit will consist of one common share in the capital of the Corporation and one-half of one common share purchase warrant of the Corporation (each whole purchase warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one common share in the capital of the Corporation (a "Warrant Share") at a price per Warrant Share of C$0.45 for a period of 24 months from the closing date of the Offering.

The Company has granted the Underwriters an option to purchase up to an additional 15% of the Offering in Offered Units at the Issue Price (the "Underwriters' Option"), exercisable in whole or in part at any time up to 48 hours prior to the closing date of the Offering.

The net proceeds from the sale of the Offered Units will ...