Nuinsco Resources Limited has closed its previously announced private placement, issuing 21,957,000 common shares for aggregate gross proceeds of $208,427.

The financing comprised 17,500,000 flow-through shares priced at $0.01 each and 4,457,000 non-flow-through shares issued at $0.0075 per share. Proceeds from the offering will be allocated to advance the company’s Prairie Lake critical metals and phosphate project near Terrace Bay, Ontario, the Paradise Lake gold project in central Newfoundland, the Zig Zag Lake lithium and tantalum property near Armstrong optioned to First Class Metals PLC, and for general corporate purposes.

The company's focus project, Prairie Lake, is a critical minerals asset holding a mineral resource estimate where recent metallurgical testing has achieved phosphate concentrate grades exceeding 30% P₂O₅. Nuinsco previously announced and closed multiple tranches of private placement financings starting in November 2025 to fund ongoing work at the site.

As part of the closing conditions, Nuinsco must renounce qualifying expenditures for the flow-through shares with an effective date no later than December 31, 2026. Fieldwork is also underway across the portfolio, with the 2026 summer-autumn program at Paradise Lake incorporating pitting and trenching designed to expose potential shallow buried bedrock.

Finders connected with the offering received a 7% cash fee totaling $3,400 alongside 388,990 compensation warrants. Each warrant allows the holder to purchase one common share at $0.01 for 18 months from closing. All securities issued under the placement are subject to a four-month and one-day statutory hold period under Canadian securities laws.

Read the full announcement: Nuinsco Closes Private Placement