Canada Nickel closes $15-million bought deal

Executive Summary

• Canada Nickel Company Inc. has closed a bought deal private placement raising gross proceeds of C$15.0 million, including the full exercise of the underwriters' over-allotment option.
• The company sold 12.5 million units at a price of $1.20 per unit, with net proceeds designated for the advancement of the Crawford nickel sulphide project, working capital, and general corporate purposes.
• The transaction involved significant warrant issuances to underwriters and finders, with the closing subject to final approval by the TSX Venture Exchange.

Key Details

• Gross Proceeds: C$15.0 million (includes full exercise of underwriters' option).
• Units Sold: 12.5 million units.
• Price Per Unit: $1.20.
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms (Investors): Each whole warrant entitles the holder to purchase one common share at $1.80 per share, exercisable on or before December 11, 2028.
• Underwriter Commission: Aggregate cash commission of $845,892 paid to Red Cloud Securities Inc. (lead underwriter/sole bookrunner) and the syndicate (Scotia Capital Inc., Cormark Securities Inc., Haywood Securities Inc.).
• Underwriter Warrants: 704,910 non-transferable common share purchase warrants issued to underwriters.
  • Exercise Price: $1.20 (offering price).
  • Expiration: December 11, 2028.
• Finder's Fees: Cash fee of $28,584 paid to eligible parties.
• Finder's Warrants: 23,820 non-transferable common share purchase warrants issued to finders.
  • Exercise Price: $1.20 (offering price).
  • Expiration: December 11, 2028.
• Use of Proceeds: Advancement of the wholly owned Crawford nickel sulphide project, working capital, and general corporate purposes.
• Regulatory Status: Closing is subject to final approval of the TSX Venture Exchange.
• Hold Periods: Securities issued to purchasers in Canada are subject to a four-month hold period under Canadian securities laws. Securities issued outside Canada are not subject to this hold period. Broker and finder warrants are subject to a four-month hold period.

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.