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First Nordic Metals Announces C$10 Million "Best Efforts" LIFE Offering of Units

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

TORONTO, July 09, 2025 (GLOBE NEWSWIRE) -- First Nordic Metals Corp. (the "Company" or "First Nordic") (TSX.V:FNM, FNSE: FNMC SDB, OTCQB:FNMCF, FRA:HEG0) is pleased to announce that it has entered into an agreement with Haywood Securities Inc. ("Haywood"), as co-lead agent and sole bookrunner alongside Ventum Financial Corp. ("Ventum") as co-lead agent, on its own behalf and on behalf of Ventum, and a syndicate of agents including Research Capital Corporation, Hannam & Partners LLP, Red Cloud Securities Inc., and Roth Canada, Inc. (together with Haywood and Ventum, the "Agents"), pursuant to which the Agents have agreed to sell, on a "best efforts" private placement basis, up to 27,027,027 units of the Company (the "Units") at a price per Unit of C$0.37 (the "Issue Price") for aggregate gross proceeds to the Company of up to C$10,000,000 (the "Offering"), to be issued and sold on a prospectus-exempt basis pursuant to the ‘listed issuer financing exemption' under applicable Canadian securities laws, and subject to all necessary regulatory and stock exchange approvals. The minimum amount of the Offering is C$5,000,000.

Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one-half of one common share purchase warrant of the Company (each whole purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share (a "Warrant Share") at a price per Warrant Share of C$0.55 for a period of 24 months from the Closing Date (as defined herein). The expiry date of the Warrants may be accelerated by the Company at any time following the Closing Date and prior to the expiry date of the Warrants if the volume-weighted average trading price of the Company's common shares is greater than C$0.75 for any 20 consecutive trading days, at which time the Company may accelerate the expire date by issuing a press release announce the reduced warrant term whereupon the Warrants will expire on the 20th calendar day after the date of such press release.

The Company has agreed to grant the Agents an option (the "Agents' Option") to sell up to an additional 15% of the Offering in Units at the Issue Price or additional gross proceeds to the Company of up to ...