Northern Discovery approved for trading on CSE
Shares of Northern Discovery Metals Inc. [NOR-CSE] were scheduled to begin trading on the Canadian Securities Exchange, Tuesday.
The company is a Calgary-based mineral exploration company with a focus on the Vent Copper property on Vancouver Island.
The project was previously explored in 2023 by Vital Battery Metals Inc. [VBAM-CSE, VBAMF-OTC, Co0], which said early results had shown favourable geology for the potential discovery of copper.
Northern Discovery was incorporated in B.C. in December, 2022 under the name Legacy Lithium Corp. but changed its name to Northern Discovery Metals in March, 2026. In January, 2026, the company announced that it had entered into an option agreement with Geomap Exploration Inc. under which the company has the right to acquire the Vent property, which is located in the Alberni Mining Division.
On February 19 2026, Mark Fields was appointed as a company director, while Jared Suchan was named director and CEO of the company.
On February 25, 2026, the company closed a non-brokered private placement offering of 10.1 million units priced at $0.05 per unit for aggregate proceeds of $507,500. Each unit consisted of one share and one February, 2026 warrant. On June 30, 2026, the company closed a concurrent financing pursuant to which it issued 4.9 million units for proceeds of $1.22 million. Each unit consisted of one share and one June 2026 warrant. Each June 2026 warrant can be exercised at a price of $0.40 until June 30, 2029.
Under the terms of the Vent Copper option agreement with Geomap, the company can acquire the project by making payments of $130,000, issuing 350,000 shares (subject to adjustment in accordance with the terms of the Vent Copper Option Agreement) and funding a total of $750,000 in exploration expenditures.
The approximate working capital of the company as of June 30, 2026, was $1.39 million. During the next 12 months, the company intends to use funds that are currently available as well as funds that it may raise via equity financings to fund exploration program expenditures worth $269,080. Estimated general and administrative expenses over the next 12 months are estimated at $480,000.
The company anticipates that it will have sufficient cash available to execute its business plan and to pay its operating expenses for at least 12 months after listing.
Jared Suchan, who is based in Regina, Saskatchewan, currently serves at vice-president, exploration at Global Uranium Corp. [GURN-CSE, GURFF-OTC, Q3J-FRA], Integral Metals Corp. [INTG-CSE, ITGLF-OTC, ZK9-FSE] and Vortex Energy Corp. [VRTX-CSE, VTECF-OTC, AA3-FSE] and as Chief Operating Officer of Northern Critical Minerals. In addition, he is Managing Partner of Voyageur Exploration. Suchan holds a Doctor of Philosophy in Environmental Engineering from the University of Regina. In his capacity as CEO and director of the company, he will devote approximately 20% of his time and such additional time to the business and affairs of the company as may be necessary to discharge his duties. Suchan is described as an independent contractor of the company.
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