NVRO Metals Completes C$35 Million Private Placement for NTR Acquisition

VANCOUVER, British Columbia, Nov. 10, 2026 /CourierPR/ -- NVRO Metals Limited has completed a significant private placement, raising C$35 million to fund the acquisition of Northern Territories Resources Pty Ltd (NTR). The private placement, supported by strategic investors including Hecla Mining Company, Transamine SA, and KEWA Financial Inc., issued 269,231,000 units at C$0.13 per unit, generating an aggregate value of C$35,000,030.

Strategic investors Hecla, Transamine, and KEWA collectively invested approximately C$18,500,040. The funds will be used to finance the acquisition of NTR, expected to be completed on or about November 13, 2026. Upon closing, NVRO Metals will own the site of the NVRO Metals Hub, NT, where the company plans to install its NVRO Process™ for processing tailings from Hecla’s Greens Creek mine in Alaska.

Hecla and NVRO Metals have entered into a Greens Creek Supply Agreement, which commits Hecla to supply up to 750,000 tonnes of tailings per year to the NVRO Metals Hub, NT, for processing. The agreement is effective as of November 10, 2026.

Transamine has also entered into a binding offtake and prepayment agreement with NVRO Metals. Transamine will provide a prepayment debt facility of up to US$10,000,000 and a working capital facility of up to US$5,000,000, both bearing interest at an annual rate of three-month CME Term SOFR plus 7.00%. These facilities will support the commissioning activities toward copper cathode production, with near-term copper cathode and cobalt-nickel production expected in Q4 2027, generating an estimated C$44 million per year.

The acquisition of NTR, which owns the site of the NVRO Metals Hub, NT, will enable NVRO Metals to focus on the installation of the NVRO Process™, environmental baseline studies, and engineering work.

The private placement included the issuance of 248,497,815 units for cash proceeds of approximately C$32,304,716, and 20,733,185 units in settlement of approximately C$2,695,314 of secured debt owed to Evolver Investments Pty Ltd. The net cash proceeds will be used to fund the cash payments for the acquisition, including the A$14,600,000 contribution and an environmental bond top-up, as well as transaction expenses, working capital, and general corporate purposes.

The units issued in the private placement consist of one common share and one common share purchase warrant, with each warrant entitling the holder to purchase one common share at an exercise price of C$0.18 per share, expiring at 5:00 p.m. (Toronto time) on November 10, 2029.