Syndicate of agents co-led by Paradigm Capital, Edgecrest will assist
By Devika Patel
Knoxville, Tenn., July 21 – North American Nickel Inc. said it raised C$6.39 million in the first tranche of a C$10 million private placement of units.
Of the proceeds, C$4 million is being raised by a syndicate of agents co-led by Paradigm Capital Inc. and Edgecrest Securities Corp., with the remaining C$6 million being raised on a non-brokered basis. The offering was announced June 8 and priced on July 6.
The company is selling 45,454,545 units of one common share and a half-share warrant at C$0.22 per unit. It sold 29,054,079 units in the initial tranche.
Each whole warrant is exercisable at C$0.30 for two years. The strike price reflects a 42.86% premium to the July 3 closing share price of C$0.21.
Sentient Executive GP IV, Ltd. will participate.
Proceeds will be used for the company’s 2015 exploration and zone drilling programs at its Maniitsoq nickel sulphide project in south 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: | Units of one common share and a half-share warrant
|
| Amount: | C$10 million
|
| Units: | 45,454,545
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Paradigm Capital Inc. and Edgecrest Securities Corp. (leads, for C$4 million), non-brokered (for C$6 million)
|
| Investor: | Sentient Executive GP IV, Ltd.
|
| Announcement date: | June 8
|
| Pricing date: | July 6
|
| Settlement date: | July 21 (for C$6,391,897)
|
| Stock symbol: | TSX Venture: NAN
|
| Stock price: | C$0.21 at close July 3
|
| Market capitalization: | C$33.99 million
|
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