First Nordic Releases Q4 2024 Financials & Provides Corporate Update

First Nordic Releases Q4 2024 Financials & Provides Corporate Update

Benzinga
March 31, 2025

TORONTO, March 31, 2025 /CNW/ - First Nordic Metals Corp. (the "Company" or "FNM") (TSXV:FNM) (Stockholm: FNMC SDB) (OTCQB:FNMCF) (Germany: HEG0) announces the release of its unaudited consolidated financial statements and management discussion and analysis (the "Unaudited Financial Statements") for the three months and year ending December 31, 2024; this release was necessary as part of the Company's Nasdaq First North Growth Market ("Nasdaq First North") listing which requires that listed companies' annual reports be made available no later three months after the end of the fiscal year. FNM's audited financial statements for this same period are scheduled to be filed on SEDAR+ on April 30, 2025, in line with Company's normal financial reporting schedule pursuant to applicable Canadian securities laws.

Key recent operational and financial highlights

Late Q4 2024:

The Company closes an oversubscribed bought deal private placement for gross proceeds of C$11.5 million.

FNM begins a top-of-bedrock / base-of-till ("BoT") drilling program at the Nippas target on its 100%-owned Storjuktan project on the Gold Line belt, northern Sweden. Nippas is a 5 km intense gold / gold pathfinder anomaly.

The Company's cash balance at December 31, 2024 was C$9.6M and current assets were $11.1 million (cash + prepaids, receivables and deferred financing costs).

Q1 2025:

The Company promotes Adam Cegielski, co-founder of Gold Line Resources Ltd. ("Gold Line"), to President, and adds VP Corporate Development John Eren, a +20-year mining executive and founding team member of Cayden Resources Inc. and Keegan Resources Inc.

The Company adds Henrik Lundin to its board of directors. Mr. Lundin, also a co-founder of Gold Line, is a well-known natural resources executive, a Swedish citizen, and ...

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