NorthIsle Upsizes Financing to C$35 Million Following Strong Investor Demand

• Financing increased to C$35 million due to strong investor demand, with Paradigm Capital as lead agent
• Wheaton Precious Metals to invest C$5 million in non-brokered placement, signalling institutional confidence
• Dual-structure offering comprises brokered placement (up to C$30 million) and non-brokered placement (C$5 million)
• Over-allotment option of up to C$4.5 million provides additional flexibility to meet excess investor demand
• Diverse investor base includes institutional investors, insiders, directors, and cornerstone shareholders

NorthIsle Copper & Gold Inc. (TSXV: NCX, OTCQX:NTCPF) is a mineral exploration and development company focused on copper and gold assets. 

The Vancouver-based company owns the North Island Project, one of Canada's most promising copper and gold porphyry projects. Located on a 34,000-hectare mineral title block near Port Hardy, British Columbia, the project sits 50 kilometres northwest from BHP Billiton's former Island Copper Mine. Since 2021, NorthIsle has discovered two significant deposits whilst expanding resources and demonstrating economic potential.

Financing Structure & Terms

Brokered Placement Details

The brokered portion targets up to C$30 million through two share classes: 9,338,000 flow-through shares at C$1.6065 each and 14,287,000 regular shares at C$1.05 per share. Flow-through shares provide tax benefits for Canadian investors, explaining their premium pricing compared to regular shares.

The agents receive an over-allotment option worth up to C$4.5 million, exercisable within 48 hours of closing. This provision allows the syndicate to meet additional demand if investor interest exceeds the base offering size.

Non-Brokered Placement & Wheaton Participation

The non-brokered placement comprises C$5 million through 4,762,000 common shares at C$1.05 each, operating without agent involvement.

Wheaton Precious Metals Corp.'s participation signals institutional endorsement, as the company operates as one of the world's largest precious metals streaming companies. Their involvement brings credibility and suggests confidence in NorthIsle's asset quality and strategic direction.

Wheaton's participation is contingent upon negotiating a right of first refusal agreement with NorthIsle, suggesting potential for deeper strategic collaboration. Such arrangements typically provide preferential access to future financing opportunities or strategic transactions.

The right of first refusal framework indicates Wheaton's longer-term strategic interest beyond simple equity participation, opening doors for future streaming arrangements or operational partnerships that could benefit both companies.

Strategic Implications & Market Reception

The financing upsize demonstrates strong market reception and investor confidence in NorthIsle's prospects. Wheaton Precious Metals' involvement validates the company's strategic direction and asset quality, whilst the dual-structure approach accommodates both tax-motivated Canadian investors and broader equity participants.

The successful completion should provide NorthIsle with enhanced financial flexibility to advance its copper and gold projects. The diverse participation base may provide stability whilst broadening the company's investor reach.