Business
Quebec Nickel Corp. Announces Closing of the First Tranche of Its Previously Announced Private Placement and Update on Work Program
Vancouver, British Columbia--(Newsfile Corp. - November 5, 2021) - Quebec Nickel Corp. (CSE: QNI) (FSE: 7lB) ("Quebec Nickel Corp." or the "Company") is pleased
About this update from Aurbis Resources Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - November 5, 2021) - Quebec Nickel Corp. (CSE: QNI) (FSE: 7lB) (\"Quebec Nickel Corp.\" or the \"Company\") is pleased to announce that it has completed the closing of the first tranche of its non-brokered private placement (the \"First Tranche\") by issuing a total of (i) 3,803,304 units (each a \"Unit\"), at a price of $0.24 per Unit; (ii) 10,004,000 flow-through shares (each, a \"FT Share\"), at a price of $0.25 per FT Share; and (iii) 4,841,573 Quebec flow-through shares (each, a \"Quebec FT Share\"), at a price of $0.26 per Quebec FT Share. The aggregate gross proceeds raised from the First Tranche is $4,672,601.94. The securities issued in the private placement are subject to a four-month hold period expiring on March 5, 2022. Each Unit is comprised of one common share (\"Common Share\") in the capital of the Company and one-half (1/2) of a Common Share purchase warrant (\"Warrant\") of the Company. Each whole Warrant entitles the holder thereof to acquire one additional Common Share at a price of $0.32 for a period of two (2) years from the closing date (the \"Closing Date\") of the First Tranche. The FT Shares and the Quebec FT Shares will qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada). The Company will use the private placement proceeds from the Units for general working capital purposes and will use the proceeds from the FT Shares and the Quebec FT Shares to fund exploration work on its properties. As a result of the closing of the private placement, there are now 59,757,819 common shares of the Company issued and outstanding. The private placement was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the Canadian Securities Exchange. In connection with the First Tranche, finder's fees equal to an aggregate amount of $327,082.14 were paid, and 1,305,421 finder's warrants were issued to arm's length third parties of the Company. Each finder's warrants entitle the holder to acquire one common share of the Company for the price of $0.24 per common share for a period of two years following the closing. The Company anticipates closing the second tranche of its private placement on or around November 10, 2021. Ducros Group Ni-Cu-PGE Property Work Program The...