Business
EV Nickel Announces Non-Brokered Private Placement of up to C$2.0 Million
NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWI...
About this update from Ev Nickel Inc.
[{"type":"text","content":"EV Nickel Announces Non-Brokered Private Placement of up to C$2.0 MillionNOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICESTORONTO, ON / ACCESSWIRE / June 15, 2022 / EV Nickel Inc. (TSXV:EVNI) (\"EVNi\" or the \"Company\") is pleased to announce a non-brokered private placement (the \"Offering\") for gross proceeds of up to C$2,000,000 from the sale of any combination of flow-through units of the Company (each, a \"FT Unit\") at a price of C$0.18 per FT Unit and FT Units to be sold to charitable purchasers (each, a \"Charity FT Unit\") at a price of C$0.24 per Charity FT Unit. The Proceeds of the Offering will be primarily used towards Phase 3 exploration on the Company's Langmuir Project.Each FT Unit and Charity FT Unit will consist of one common share of the Company to be issued as a \"flow-through share\" within the meaning of the Income Tax Act (Canada) (each, a \"FT Share\") and one half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a \"Warrant Share\") at a price of C$0.25 for a period of 24 months following the closing date of the Offering.The Company intends to use the net proceeds raised from the Offering for the exploration of the Company's Shaw Dome Project located south of Timmins in Ontario. Proceeds from the sale of FT Shares will be used to incur \"Canadian exploration expenses\" as defined in subsection 66.1(6) of the Income Tax Act and \"flow through mining expenditures\" as defined in subsection 127(9) of the Income Tax Act. Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2022, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares.The FT Shares and Warrant Shares will be subject to a hold period expiring four months and one day from their date of issuance. A finder's fee may be paid on a portion of the proceeds from the Offering. Closing of the Offering is anticipated to occur on or before June 29, 2022 and is subject to customary closing conditions including, but not limited to, the receipt of applicable regulatory approvals, including the approval of the listing of the FT Shares and Warrant Shares on the TSX Venture Exchange.F...