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Canada Nickel Company Inc. Closes the Second Tranche of "Bought Deal" Private Placement of $5 Million of Flow-Through Shares
Canada Nickel Company Inc. Closes the Second Tranche of "Bought Deal" Private Placement o...
About this update from Canada Nickel Company Inc
[{"type":"text","content":"\n \n \n \n Canada Nickel Company Inc. Closes the Second Tranche of \"Bought Deal\" Private Placement of $5 Million of Flow-Through Shares\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 \n \n \n \n \n \n Canada NewsWire\n \n \n TORONTO, Oct. 14, 2020\n \n \n \n \n \n /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN\n \n CANADA\n \n ONLY AND IS NOT INTENDED ‎FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR DISSEMINATION IN THE ‎UNITED STATES.‎/\n \n \n \n \n TORONTO\n \n ,\n \n Oct. 14, 2020\n \n /CNW/ - Canada Nickel Company Inc. (TSX-V: CNC) (\"\n \n Canada Nickel\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has closed the second tranche of its previously announced brokered \"bought deal\" private placement financing and has issued an aggregate of 2,950,000 common shares of the Company designated as \"flow-through shares\" (the \"\n \n Flow-Through Shares\n \n \") at a price of\n \n $1.70\n \n per Flow-Through Share for aggregate gross proceeds of\n \n $5,015,000\n \n (the \"\n \n Offering\n \n \").\n \n \n The Offering was led by Echelon Wealth Partners Inc. on behalf of a syndicate of underwriters that included Eight Capital and Haywood Securities Inc. (together, the \"\n \n Underwriters\n \n \"). In consideration for their services, the Company paid the Underwriters a cash commission of 6.0% of the gross proceeds of the Offering and issued non-transferable compensation options (the \"\n \n Compensation Options\n \n \") equal to 6.0% of the aggregate number of Flow-Through Shares sold under the Offering. Each Compensation Option is exercisable into one common share of the Company and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a \"\n \n Warrant\n \n \") at a price of\n \n $1.50\n \n per Compensation Option. Each Warrant entitles the holder thereof to acquire one common share of the Company at a price of\n \n $2.10\n \n per common share until\n \n October 14, 2022\n \n , subject to adjustment and acceleration in certain events.\n \n \n The gross proce...