By Devika Patel
Knoxville, Tenn., Aug. 25 - First Nickel Inc. said it plans to raise C$4.5 million in a non-brokered private placement of stock with an institutional fund.
The company plans to sell 15 million flow-through common shares at C$0.30 apiece.
Proceeds will be used to fund exploration expenses in connection with the company's exploration projects located in Ontario.
First Nickel is a mining and exploration company based in Toronto.
| Issuer: | First Nickel Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$4.5 million
|
| Shares: | 15 million
|
| Price: | C$0.30
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 25
|
| Stock symbol: | Toronto: FNI
|
| Stock price: | C$0.20 at close Aug. 25
|
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