Canada Nickel bought deal offering oversubscribed

Executive Summary

• Canada Nickel Company Inc. has announced that its previously announced bought deal private placement is oversubscribed and fully allocated, with the underwriters intending to fully exercise the overallotment option.
• The total gross proceeds from the offering, including the full exercise of the overallotment option, will be $15.0 million.
• The net proceeds will be used to advance the company's wholly owned Crawford nickel sulphide project, as well as for working capital and general corporate purposes.

Key Details

• Offering Structure: Bought deal private placement consisting of units, each comprising one common share and one-half of one common share purchase warrant.
• Base Offering: 10 million units at $1.20 per unit for gross proceeds of $12 million.
• Overallotment Option: Underwriters have an option to purchase up to an additional 2.5 million units at $1.20 per unit for up to $3 million in additional gross proceeds.
• Total Gross Proceeds: $15.0 million (if overallotment is exercised in full).
• Warrant Terms: Each whole warrant entitles the holder to purchase one common share at an exercise price of $1.80. Warrants are exercisable for 36 months after the closing date.
• Lead Underwriter: Red Cloud Securities Inc. acting as lead underwriter and sole bookrunner.
• Use of Proceeds: Advancement of the Crawford nickel sulphide project, working capital, and general corporate purposes.
• Closing Date: Scheduled on or around December 11, 2025.
• Conditions: Subject to listing on the TSX Venture Exchange and receipt of necessary approvals, including TSX-V approval.
• Hold Period: Four-month hold period applies to securities issued to purchasers in Canada; no expected hold period for purchasers outside Canada under specific exemptions.

Notable Quotes

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