08:38 AM EST, 02/14/2025 (MT Newswires) -- Mason Resources ( MGPHF ) said overnight Thursday that it acquired additional securities in NorthX Nickel ( NXNIF )

Mason said it acquired over 1.2 million subscription receipts of NorthX, with each subscription receipt comprising one share and one warrant of NorthX. Each warrant can be exercised at $0.075 per share until Feb. 10, 2028.

Assuming the escrow release condition is satisfied, Mason would acquire over 1.2 million shares and 1.2 million warrants of NorthX, representing a decrease in its ownership and control of about 4.73% on a non-diluted basis and 6.18% on a partially-diluted basis.

Immediately prior to the acquisition of the Subscription Receipts, Mason held 14.55% of NorthX shares on a non-diluted basis and 25.41% on a partially-diluted basis.

After the acquisition, Mason would hold 9.8% of the shares on a non-diluted basis and 17.9% on a partially-diluted basis.

Mason said it acquired the subscription receipts for investment purposes and not for a potential change of control of NorthX.

Mason also owns stakes in Black Swan Graphene (SWAN.V) and Nouveau Monde Graphite ( NMG ) .

Mason's share price soared 15% on Thursday to $0.075 on the TSXV.