Northwire Canada EditionWednesday, November 11, 2026
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Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1% Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1%
Financings

Nican arranges $1.27-million private placement

By The Northwire Desk — AI Analysis Feb 20, 2026 · 10:50 NICN · 0.045 NiCan Limited
NICN · Price

Executive Summary

  • Nican Ltd. announced a non-brokered private placement with strategic investor Michael Gentile for maximum aggregate gross proceeds of up to $1.27 million.
  • The offering consists of two tranches: 7.9 million hard-dollar units at $0.05 per unit and 10 million charity flow-through units at $0.0875 per unit.
  • Proceeds from the charity flow-through units will be used for eligible Canadian exploration expenses related to critical mineral mining projects in Manitoba, while hard-dollar proceeds are for general working capital.

Key Details

  • Total Gross Proceeds: Up to $1,270,000.
  • Investor: Michael Gentile (Strategic Investor).
  • Tranche 1 (Hard-Dollar Units):
    • Quantity: Up to 7.9 million units.
    • Price: $0.05 per unit.
    • Gross Proceeds: Up to $395,000.
    • Composition: One common share and one common share purchase warrant per unit.
    • Warrant Terms: Exercise price of $0.075 per warrant share; exercisable for 36 months from closing.
  • Tranche 2 (Charity Flow-Through Units):
    • Quantity: Up to 10 million units.
    • Price: $0.0875 per unit.
    • Gross Proceeds: Up to $875,000.
    • Composition: One common share (flow-through share) and one warrant (flow-through share) per unit.
    • Use of Proceeds: Eligible Canadian exploration expenses for flow-through critical mineral mining expenditures related to projects in Manitoba.
    • Renunciation: Qualifying expenditures to be renounced in favor of subscribers with an effective date not later than Dec. 31, 2026.
  • Use of Proceeds (Hard-Dollar): General working capital purposes.
  • Closing Date: On or about March 12, 2026.
  • Conditions: Subject to regulatory and exchange approvals.
  • Hold Period: Four months and one day from the date of issuance.
  • Blocker Provision: Warrants and prior warrants held by Mr. Gentile are subject to a 20% blocker provision, preventing exercise if it results in holding 20% or more of issued and outstanding shares. This ensures no new control person is created under TSX Venture Exchange policies.
  • Finders' Fees: The company may pay finders' fees to eligible finders in accordance with exchange policies.

Notable Quotes

  • No direct quotes from the CEO/President were included in the provided text.
Read the original news release →

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