2025-12-22, 6:12:21 p.m.
Vancouver, British Columbia — December 22, 2025 — Leads & Copy — Norsemont Mining Inc. (CSE: NOM, OTC: NRRSF, FWB: LXZ1) has announced the closing of the first tranche of its non-brokered private placement, issuing US$7,529,000 of principal amount of unsecured convertible debenture units and 6,035,258 warrants for aggregate gross proceeds of US$7,529,000 (approximately CAD$10,375,715). This follows the company’s news release on December 7, 2025.
Norsemont CEO Marc Levy stated the financing will allow the company to advance its 2026 drill program, progress the Choquelimpie near-term production strategy, and complete the proposed stockpile PEA. Levy noted the continued support from long-term European and offshore strategic investors, who have expressed interest in providing additional capital as the project advances.
The company also announced that the terms of the offering have been amended to gross proceeds of up to US$10,000,000 (approximately CAD $13,794,400), revised from the previously disclosed C$10,000,000 with a 30% over-allotment option.
The proceeds from the offering are expected to be used for general working capital purposes, as well as mineral exploration and advancement of the company’s Choquelimpie gold-silver-copper project.
Each convertible debenture unit comprises one convertible debenture in the principal amount of US$1,000, convertible into common shares of the company at a price of C$0.86 per share, and 802 transferable common share purchase warrants, each entitling the holder to purchase one common share at a price of C$1.00 per share for a period of three years from the closing date of the first tranche of the offering. The convertible debentures bear interest at a rate of 5.25% per annum with a maturity date of three years from the closing date. The debentures also include a gold purchase right whereby, upon commercial production and for one year following, the subscriber may purchase gold from the company at a fixed price of US$3,000 per ounce, up to the subscription amount of the subscriber.
More information regarding the offering is available in the company’s news release dated December 7, 2025, and in the Form 9 posted under the company’s profile on the CSE website.
All securities issued in connection with the offering, including any conversion shares and warrant shares, are subject to a restricted period of four months and one day from closing of the offering.
These securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
Marc Levy, CEO & Chairman
Investor Relations: Paul Searle (778) 240-7724 or psearle@norsemont.com
Source: Norsemont Mining Inc.
