Company sells securities to finance exploration and working capital
By Devika Patel
Knoxville, Tenn., May 31 - North American Nickel Inc. said it raised C$3.2 million through a non-brokered private placement of shares and units. The deal priced for C$3 million on May 3.
The company sold 11 million units of one share and a warrant at C$0.20 each for C$2.2 million and 4,545,463 flow-through shares at C$0.22 apiece for C$1 million.
The warrants will be exercisable at C$0.35 for 18 months, which is a 34.62% premium to the May 30 closing share price, C$0.26.
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$3.2 million
|
| Agent: | Non-brokered
|
| Pricing date: | May 3
|
| Settlement date: | May 31
|
| Stock symbol: | TSX Venture: NAN
|
| Stock price: | C$0.26 at close May 30
|
| Market capitalization: | C$9.16 million
|
|
|
| Units
|
| Amount: | C$2.2 million
|
| Units: | 11 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
|
| Shares: | 4,545,463
|
| Price: | C$0.22
|
| Warrants: | No
|
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