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Canada Nickel Announces a $6.5 Million “Bought Deal” Private Placement of Units

by MikeyMike426
September 15, 2020
in CNC, CNC News, News Room
0
Canada Nickel Announces a $6.5 Million “Bought Deal” Private Placement of Units

TORONTO, Sept. 14, 2020 /CNW/ – Canada Nickel Company Inc. (TSXV: CNC) (“Canada Nickel” or the “Company”) is pleased to announce it has entered into an agreement with Echelon Wealth Partners Inc. as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the “Underwriters“), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” private placement basis, 4,334,000 units of the Company (the “Units“) at a price of $1.50 per Unit (the “Issue Price“), for total gross proceeds of $6,501,000 (the “Offering“).

Each Unit will consist of one common share (a “Common Share“) in the capital of the Company and one-half of one common share purchase warrant (a “Warrant“) of the Company. Each Warrant shall be exercisable to acquire one Common Share (a “Warrant Share“) at a price per Warrant Share of $2.10 for a period of 24 months from the closing date of the Offering, subject to an accelerated expiry option whereby the Company can trigger an accelerated 30-day expiry of the Warrants if the closing price of the Company’s Common Shares listed on the TSX-V remain higher than $3.25 for 20 consecutive trading days. On the 20th consecutive trading day above $3.25 (the “Acceleration Trigger Date“), the Warrant expiry date may be accelerated to 30 trading days after the Acceleration Trigger Date by the issuance of a news release announcing such acceleration, within two trading days of the Acceleration Trigger Date. 

The Company has granted the Underwriters an option to purchase up to an additional 15% of the Offering in Units (the “Underwriters’ Option“), exercisable in whole or in part at any time up to 48 hours prior to the closing date.

The net proceeds from the sale of the Units will be used to fund a feasibility study work through 2021 on the Company’s Crawford Nickel-Cobalt Sulphide Project and for working capital purposes.

The Offering is expected to close on or about September 30, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities. The Units to be issued under the Offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the Offering.

In connection with the Offering, the Underwriters will receive a cash commission of 6.0% of the gross proceeds of the Offering and that number of non-transferable compensation options (the “CompensationOptions“) as is equal to 6.0% of the aggregate number of Units sold under the Offering. Each Compensation Option is exercisable into one Common Share of the Company at the Issue Price for a period of 24 months from the closing date of the Offering.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Canada Nickel

Canada Nickel Company Inc. is advancing the next generation of nickel-cobalt sulphide projects to deliver nickel and cobalt required to feed the high growth electric vehicle and stainless steel markets.  Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero NickelTM, NetZero CobaltTM, NetZero IronTM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel and cobalt in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the use of proceeds of the Offering; the timing and ability of the Company, if at all, to obtain final approval of the Offering from the TSX Venture Exchange; the tax treatment of the FT Shares; the timing of the tax renunciation to the subscribers; and statements regarding exploration results and exploration plans. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors that could affect the outcome include, among others: future prices and the supply of metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, and failure to obtain regulatory or shareholder approvals. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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I am a 3rd generation miner who was born and raised in the silver capital of Canada, Cobalt, Ontario. For the last 10 years I have been invested in the mining sector and as a retail investor found it difficult gathering information on companies of interest. For this reason we created Insidexploration.com as a means to share our due diligence with investors all around the world. Disclosure The thoughts and opinions expressed in my articles and research reports are my own and do not represent those of the companies I write about. I often buy and sell the stocks I write about and may do so at any point in time without warning. Disclaimer My articles and research reports should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided is derived from sources believed to be accurate, but cannot be guaranteed. I do not take into account the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g. prohibitions to investments due to law, jurisdiction issues, etc.) which may exist for certain persons. I am not a registered financial advisors and one should always do your own due diligence and consult a licensed investment adviser prior to making any investment decisions. Always reference www.SEDAR.com for important risk disclosures.

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Canada Nickel Consolidates and Expands Nickel Land Package and Acquires Sixth Nickel Target From Noble Mineral Exploration

Keep up the great work @MarkSelby74 @CanadaNickel @NobleMineral $CNC.V $NOB $SHL #Nickel #NetZeroCarbon #Timmins

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Canada Nickel Consolidates and Expands Nickel Land Package and Acquires Sixth Nickel Target From Noble Mineral Exploration

TORONTO, April 22, 2021 - Canada Nickel Company Inc. ("Canada Nickel" or "the Company") (TSXV: CNC) (OTCQB: CNIKF) is pleased to

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@WGeotek @DraganflyInc $WIN $WINKF $DFLY #AI #MachineLearning #Landminedetection
#Savinglives #NATO

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insidexplr avatarInsidexploration@insidexplr·
21 Apr 1384886716394352646

Check out this beautiful mineralization at the top of the historic shaft on the Rickard Gold Property.

@ArcPacific_ACP $ACP is currently drilling on claim 18405, which encompasses the shaft and hasn't been touched in almost 70 years.

Very Exciting Project!

Image for the Tweet beginning: Check out this beautiful mineralization
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Windfall Geotek Announces Strategic Projects Advisory Board with Colonel Stephen Appleton as the Chairman

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Windfall Geotek Announces Strategic Projects Advisory Board with Colonel Stephen Appleton as the Chairman

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Looks Like our friends at @StGeorgesPlat have been busy staking some ground around the Manicouagan Palladium Project!

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Better start paying attention to this project!

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While on site at the @ArcPacific_ACP $ACP Rickard Gold Project, we went to check out the old shaft and it did not disappoint! Look at that mineralization!

#Timmins #Abitibigreenstone #Gold

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