Company sells securities to finance exploration and working capital
By Devika Patel
Knoxville, Tenn., May 3 - North American Nickel Inc. said it will take in C$3 million through a non-brokered private placement of shares and units.
The company will sell 10 million units of one share and a warrant at C$0.20 per unit for C$2 million and C$1 million of flow-through shares at C$0.22 apiece.
The warrants will be exercisable at C$0.35 for 18 months.
Proceeds will be used for exploration on company properties in the Sudbury, Ont., and Thompson, Man., mining camps and added to general working capital.
North American Nickel is a natural resource explorer based in Vancouver, B.C.
| Issuer: | North American Nickel Inc.
|
| Issue: | Units of one common share and a warrant, flow-through shares
|
| Amount: | C$3 million
|
| Agent: | Non-brokered
|
| Pricing date: | May 3
|
| Stock symbol: | OTCBB: WSCRF
|
| Stock price: | $0.35 at close May 2
|
| Market capitalization: | $12.66 million
|
|
|
| Units
|
| Amount: | C$2 million
|
| Units: | 10 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.35
|
|
|
| Flow-through shares
|
| Amount: | C$1 million
|
| Price: | C$0.22
|
| Warrants: | No
|
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