By Laura Lutz
Des Moines, March 13 - Victory Nickel Inc. arranged a private placement of shares for C$10 million.
The company plans to sell 14,285,714 flow-through shares at C$0.70 each.
The placement will be conducted through a syndicate led by Raymond James Ltd.
The underwriters have a greenshoe for up to 2,142,857 flow-through shares, for additional proceeds of up to C$1.5 million.
Proceeds will be used to accelerate activities on the company's sulphide nickel projects.
Settlement is expected on March 29.
Victory Nickel is a Toronto-based nickel company.
| Issuer: | Victory Nickel Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$10 million
|
| Shares: | 14,285,714
|
| Greenshoe: | For up to 2,142,857 flow-through shares
|
| Price: | C$0.70
|
| Warrants: | No
|
| Underwriter: | Raymond James Ltd. (lead)
|
| Pricing date: | March 13
|
| Settlement date: | March 29
|
| Stock symbol: | Toronto: NI
|
| Stock price: | C$0.58 at close March 12
|
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