Non-brokered offering raises proceeds for exploration, working capital
By Devika Patel
Knoxville, Tenn., April 17 - North American Nickel Inc. said it has arranged a C$7.5 million non-brokered private placement of units.
The company will sell 44,117,647 units of one common share and a half-share warrant at C$0.17 per unit.
Each whole warrant is exercisable at C$0.21 for two years. The strike price is a 61.54% premium to C$0.13, the April 16 closing share price.
VMS Ventures Inc. will invest C$2 million and Sentient Executive GP IV, Ltd. will invest C$2.81 million.
Proceeds will be used for mineral exploration programs and to provide additional working capital.
North American Nickel is a natural resource explorer based in Vancouver, B.C.
Issuer: | North American Nickel Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$7.5 million
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Units: | 44,117,647
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Price: | C$0.17
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.21
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Agent: | Non-brokered
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Investors: | VMS Ventures Inc. (for C$2 million) and Sentient Executive GP IV, Ltd. (for C$2,813,908)
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Pricing date: | April 17
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Stock symbol: | TSX Venture: NAN
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Stock price: | C$0.13 at close April 16
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Market capitalization: | C$11.27 million
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