Deal sells 28,484,848 shares at C$0.33, funds exploration and drilling
By Devika Patel
Knoxville, Tenn., May 8 - North American Nickel Inc. said it will raise C$9.4 million in a private placement of stock.
The company will sell 28,484,848 common shares at C$0.33 apiece. The price per share reflects a 10.81% discount to the May 7 closing share price of C$0.37.
Sentient Executive GP IV, Ltd. plans to participate and VMS Ventures Inc. intends to invest $1.25 million.
Proceeds will be used for the company's 2014 exploration and zone drilling programs at its Maniitsoq nickel sulphide project in Greenland and as additional working capital.
North American Nickel is a natural resource explorer based in Vancouver, B.C.
| Issuer: | North American Nickel Inc.
|
| Issue: | Common stock
|
| Amount: | C$9.4 million
|
| Units: | 28,484,848
|
| Price: | C$0.33
|
| Warrants: | No
|
| Investors: | Sentient Executive GP IV, Ltd., VMS Ventures Inc. (for $1.25 million)
|
| Pricing date: | May 8
|
| Stock symbol: | TSX Venture: NAN
|
| Stock price: | C$0.37 at close May 7
|
| Market capitalization: | C$51.31 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
