Business
EV Nickel Closes C$1 Million Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES TORONTO, ON / AC...
About this update from Ev Nickel Inc.
[{"type":"text","content":"\nEV Nickel Closes C$1 Million Private PlacementNOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICESTORONTO, ON / ACCESSWIRE / December 21, 2022 / EV Nickel Inc. (TSXV:EVNI) (\"EVNi\" or the \"Company\") announces that it has closed the non-brokered, private placement financing (the \"Offering\") (see news release dated December 5, 2022) for gross proceeds of C$1,034,520.Pursuant to the Offering, the Company issued (i) 7,389,429 flow-through units of the Company (each, a \"FT Unit\") at a price of C$0.14 per Unit for gross proceeds of C$1,034,520.\"The Company is pleased to close this financing. We are grateful for the continued support from our existing shareholders and welcome our new ones,\" stated Sean Samson, President and CEO of EV Nickel. \"This financing will support our continued exploration efforts across the Shaw Dome Project, southeast of Timmins, Ontario following up on our two new nickel discoveries from 2022- the High-Grade W4 Extension and the Large-Scale CarLang A-Zone.\"Each FT Unit consists 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 entitles the holder thereof to purchase one common share of the Company (each, a \"Warrant Share\") at a price of C$0.21 for a period of 24 months following the date hereof.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, 2023, 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 are subject to a hold period expiring four months and one day from their date of issuance.In connection with the Offering, the Company paid finder's fees on portions of the Offering. These finder's fees totalled C$72,206 in cash and 515,760 w...