Canada Nickel Announces Closing of a Bought Deal Private Placement for Gross Proceeds of C$15.0 Million

Executive Summary

• Canada Nickel closed its previously announced bought‑deal private placement, raising gross proceeds of C$15 million.
• The offering consisted of 12.5 million units at C$1.20 per unit, each unit containing one common share and half a warrant to purchase an additional share at C$1.80.
• Net proceeds will be used to advance the Crawford Nickel Sulphide Project and for working capital/general corporate purposes.

Key Details

• Units Sold: 12,500,000 units @ C$1.20 per unit → Gross proceeds: C$15,000,000.
• Unit Composition: 1 common share + ½ common‑share purchase warrant (exercise price C$1.80, expiry Dec 11 2028).
• Underwriters: Lead – Red Cloud Securities Inc.; syndicate – Scotia Capital Inc., Cormark Securities Inc., Haywood Securities Inc.
• Underwriter Compensation: Cash commission of C$845,892 plus 704,910 non‑transferable broker warrants (each exercisable into one common share at the offering price, expiry Dec 11 2028).
• Finder Fees: Cash fee of C$28,584 and issuance of 23,820 non‑transferable finder warrants (same terms as broker warrants).
• Use of Proceeds: Advancement of the wholly owned Crawford Nickel Sulphide Project; working capital; general corporate purposes.
• Closing Conditions: Subject to final approval by the TSX Venture Exchange (TSX‑V).
• Holding Periods: Canadian securities subject to a four‑month hold period; units sold outside Canada exempt from this hold under OSC Rule 72‑503. Broker and finder warrants also subject to a four‑month hold period.
• U.S. Offering Disclaimer: Securities not registered under U.S. law; cannot be offered or sold in the United States absent registration or exemption.

Notable Quotes

• “The successful closing of this financing provides us with the capital needed to accelerate development at Crawford and positions Canada Nickel for continued growth,” – Mark Selby, CEO.