Business
Quebec Nickel Corp. Announces Upsize to Private Placement from $5 Million to $7 Million of Units, Flow-Through Shares and Premium Flow-Through Units
Vancouver, British Columbia--(Newsfile Corp. - October 20, 2021) - Quebec Nickel Corp. (CSE: QNI) ("Quebec Nickel Corp." or the "Company") is pleased to announc
About this update from Aurbis Resources Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - October 20, 2021) - Quebec Nickel Corp. (CSE: QNI) (\"Quebec Nickel Corp.\" or the \"Company\") is pleased to announce that, further to its press release of earlier today, and due to strong investor demand, it has upsized its non-brokered private placement from gross proceeds of $5,000,000 to up to $7,000,000. Accordingly, it is now arranging a private placement of: (i) up to $1 million of units (each, a \"Unit\"), at a price of $0.24 per Unit; and (ii) up to an aggregate of $6 million of (A) flow-through shares (each, a \"FT Share\"), at a price of $0.25 per FT Share, (B) Quebec flow-through shares (each, a \"Quebec FT Share\"), at a price of $0.26 per Quebec FT Share, and (C) premium flow-through units (each, a \"Premium FT Unit\"), at a price of $0.42 per Premium FT Unit, for aggregate gross proceeds of up to $7,000,000 (the \"Offering\"). Each Unit shall be comprised of one common share (\"Common Share\") in the capital of the Company and one-half (1/2) of a transferable Common Share purchase warrant (each whole Common Share purchase warrant, a \"Warrant\"). Each Premium FT Unit shall be comprised of one flow-through Common Share (a \"Premium FT Share\") and one-half (1/2) of one transferrable Warrant to be issued on a non-flow-through basis. Each Warrant shall entitle 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 Offering. The FT Shares, Quebec FT Shares and the Premium FT Shares will qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada). The net proceeds from the issuance of the Units will be used for general working capital purposes. The gross proceeds from the issuance of the FT Shares, Quebec FT Shares and the Premium FT Shares will be used for Canadian exploration expenses and will qualify as \"flow-through mining expenditures,\" as defined in subsection 127(9) of the Income Tax Act (Canada) and under section 359.1 of the Taxation Act (Quebec) (the \"Qualifying Expenditures\"), which will be incurred on or before December 31, 2022 and renounced to the subscribers with an effective date no later than December 31, 2021 in an aggregate amount not less than the gross proceeds raised from the issue of the FT Share...