Canada Nickel to raise C$25M in stock offering

Mar. 09, 2022 7:10 AM ETCanada Nickel Company Inc. (CNIKF), CNC:CABy: Khyathi Dalal, SA News Editor1 Comment
  • Canada Nickel (OTCQB:CNIKF) entered into an agreement with Red Cloud Securities to act as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters wherein underwriters agreed to purchase for resale on a bought deal basis to raise gross proceeds of C$25M.
  • It plans to issue 4M shares at C$3.1/share and 3.42M shares to be issued as "flow-through shares" at C$3.65/FT Share.
  • Underwriters granted 30-days option to purchase any combination of additional offered securities for additional gross proceeds of up to 15% of the gross proceeds raised.
  • Net proceeds to be used for repaying the company's current loan with Auramet and for general working capital and corporate purposes such as advancing the project through Feasibility Study; FT shares gross proceeds will be used for Canadian Exploration Expenses.

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