- $2.5 million cornerstone investment by Lind Global Fund II, LP, an institutional fund managed by New York based Lind Partners (together “Lind”), with the first $1.75m to be provided within five days and the balance to be provided within 5 days after Nimy receives shareholder approval.
- The investment is a staged placement over a maximum 24-month period, with the price fixed at $0.208 cents in the first four months then at either the fixed price or a calculated VWAP subscription price, as set out below.
- Nimy will use the funds to conduct its Nickel and Lithium drilling programs at the Mons project North-East of Perth, WA.
- Program of Works (POWs) for RC Drilling submitted for approval targeting two VTEM / MLEM high conductance anomalies targeting nickel massive sulphides.
- Downhole Electromagnetic surveys to commence late August at the Dease Gossan and East Gossan Prospects to enable targeted drilling of potential EM plates targeting nickel massive sulphides.
- Program of Work (POW) for RC Drilling has been submitted for approval targeting high grade lithium.
- Follow-up from recent drilling having confirmed fertile LCT Pegmatites, now targeting high priority targets 1.3km north-west having additional soil samples and Hyperspectral data confirmation.
Nimy Resources Executive Director Luke Hampson said:
We are extremely pleased to have entered into this Agreement with The Lind Partners. To date 2023 has seen Nimy progress significantly with our nickel and lithium targets. The funds invested by Lind will further our ability to drill highly prospective targets and propel our project to the next level.”
Lind Partners Founder Jeff Easton said today:
We have been watching Luke Hampson and Simon Lill both at Nimy Resources and De Grey Mining operate for some time now and are pleased to invest in Nimy Resources to further their exploration plans. We are confident both our interests are aligned given managements continued and significant shareholding in the company. Nimy is preparing a drill campaign on Priority One targets for Nickel and Lithium at The Mons Project and we are very excited to see what they yield.”
This announcement has been approved for release by the Board.