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Canada Nickel Announces Closing of Partial Exercise of Over-Allotment Option
Canada Nickel Announces Closing of Partial Exercise of Over-Allotment Option Canada New...
About this update from Canada Nickel Company Inc
[{"type":"text","content":"\n \n \n \n Canada Nickel Announces Closing of Partial Exercise of Over-Allotment Option\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 7, 2023\n \n \n /CNW/ -\n \n Canada Nickel Company Inc. (\"Canada Nickel\"\n \n or the\n \n \"Company\n \n \") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce that, further to the closing of the Company's\n \n C$44.0 million\n \n public offering and concurrent private placement on\n \n March 2, 2023\n \n (collectively, the \"\n \n Offering\n \n \"), the syndicate of underwriters led by Scotiabank, as lead underwriter and sole bookrunner, and including Red Cloud Securities Inc., Cormark Securities Inc., Echelon Wealth Partners Inc., Haywood Securities Inc., and Research Capital Corporation (collectively, the \"\n \n Underwriters\n \n \"), have partially exercised their over-allotment option to purchase an additional 950,000 common shares of the Company (the \"\n \n Common Shares\n \n \") at a price of\n \n C$1.77\n \n per Common Share for aggregate gross proceeds of approximately\n \n C$1.7 million\n \n (the \"\n \n Over-Allotment Option\n \n \").\n \n \n \n \n \n \n \n \n \n The Underwriters received an aggregate cash commission of 6.0% of the gross proceeds raised from the sale of the Common Shares in connection under the Over-Allotment Option.\n \n \n The net proceeds raised under the Offering, including the net proceeds raised from the sale of the Common Shares under the Over-Allotment Option, will be used primarily for the exploration and advancement of the Company's Crawford Nickel Project, repayment of the Auramet loan facility (made on\n \n March 3, 2023\n \n ) and for general working capital purposes. The Offering remains subject to the final acceptance of the TSX Venture Exchange.\n \n \n The securities offered in the Offering have not been, and will not be, registered under the Unit...