Fathom Nickel Announces $3 Million Private Placement Including Strategic Participation by Crescat Capital LLC

Executive Summary

• Fathom Nickel Inc. announced a best‑efforts, non‑brokered private placement to raise up to C$3 million through Charity Flow‑Through Units at C$0.048 each and Hard Dollar Units at C$0.031 each.
• Crescat Capital LLC will invest up to 20% of the offering, targeting an ~18% post‑closing ownership stake in Fathom on a non‑diluted basis.
• Proceeds are earmarked for a 3,000–4,000 m drill program at the Gochager Lake project (mid‑late February 2026 start) and for general exploration, development, working capital, and qualifying flow‑through expenditures.

Key Details

• Offering Structure:
• Charity FT Units – C$0.048 per unit; each unit = 1 charity flow‑through common share + 1 transferable warrant (exercisable at C$0.05 for 36 months).
• Hard Dollar (HD) Units – C$0.031 per unit; each unit = 1 common share + 1 warrant.
• Maximum Gross Proceeds: Up to C$3,000,000.
• Strategic Investor: Crescat Capital LLC may contribute up to 20% of total units, resulting in ~18% ownership of Fathom’s common shares on a non‑diluted basis after closing.
• Use of Proceeds:
• Charity FT Unit proceeds → qualified flow‑through critical mineral mining expenditures (exploration) before 31 Dec 2027.
• HD Unit proceeds → exploration & development of mineral projects, working capital, and general corporate purposes.
• Closing Timeline:
• HD Units expected to close ~11 Feb 2026.
• Charity FT Units expected to close ~18 Feb 2026.
• Finder Compensation: Company will pay cash commissions (percentage TBD) on gross proceeds and may issue finder warrants tied to the number of units sold.
• Regulatory Conditions: Subject to customary closing conditions, including approvals from securities regulators and the Canadian Securities Exchange.
• Drill Program Details: Planned 3,000–4,000 m program at Gochager Lake commencing mid‑late Feb 2026 to test high‑priority targets along an 8 km+ geochemical anomaly; results anticipated early Q2 2026.

Notable Quotes

• “We are excited to continue to support Fathom as they resume drilling at the Gochager Lake property… The current raise will allow the company to complete a 3‑to‑4‑thousand‑meter drill program…” – Kevin Smith, CEO & CIO, Crescat Capital LLC.
• “The proceeds from this financing will allow us to complete a 3,000‑to‑4,000‑meter program… we are particularly pleased that Crescat has agreed to participate in the Offering in such a significant manner.” – Ian Fraser, CEO & VP Exploration, Fathom Nickel Inc.