Great Northern Energy Metals Announces Closing of Private Placement for Gross Proceeds of $2.18M

Great Northern Energy Metals Announces Closing of Private Placement for Gross Proceeds of $2.18M

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

CSE: GNEM

VANCOUVER, BC, July 16, 2025 /CNW/ - Great Northern Energy Metals Inc. ("GNEM" or the "Company") (CSE: GNEM) is pleased to announce that, further to its news release dated June 2, 2025, the Company has closed a brokered private placement of 4,867,700 common shares in the capital of the Company (the "Shares") at a price of $0.35 per Share for gross proceeds of approximately $1,703,695 (the "Brokered Offering"). Haywood Securities Inc. (the "Agent") acted as the agent for the Brokered Offering. In connection with the Offering, the Company (i) paid the Agent a cash commission of $119,259, (ii) paid the Agent a corporate finance fee of $25,000, plus applicable taxes, and (iii) reimbursed the Agent for its expenses incurred in connection with the Brokered Offering.

The Company also completed a concurrent non-brokered private placement on the same terms as the Brokered Offering consisting of 1,371,429 Shares for gross proceeds of approximately $480,000 (the "NBPP", and together with the Brokered Offering, the "Offering").

The Company intends to use the net proceeds from the Offering to complete payments pursuant to its previously announced option agreements with Ventura Uranium LLC (dba Nuvemco, LLC) and UREnergy, LLC, and for general working capital purposes.

All Shares issued in connection with the Offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

The subscribers in the NBPP included a corporate subscriber controlled by a director of the Company (the "Insider") who subscribed for 257,143 Shares for aggregate gross proceeds of $90,000.05 to the Company. The issuance of Shares to the Insider constitutes a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, for the Insider participation in the NBPP, as the value of the Shares subscribed for do not represent more than 25% of the Company's market capitalization, as determined in accordance with MI 61-101.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the Shares in the United States.  The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.  "United States" and "U.S. person" are as defined in Regulation S promulgated under the U.S. Securities Act.

On Behalf of the Board of Great Northern Energy Metals Inc.

"David Mitchell"

CEO & Director

About Great Northern Energy Metals Inc.

GNEM is a Canadian-based exploration and development company focused on securing and developing critical energy metals, including uranium. The Company's mission is to support the global transition to clean energy through responsible resource development.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements."  Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements appearing in this news release include, without limitation, statements relating to the intended use of proceeds from the Offering.  All forward-looking statements in this press release are made as of the date of this press release. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company's public securities filings with the Canadian securities commissions. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

www.greatnorthernenergymetals.com

SOURCE Great Northern Energy Metals Inc.