Business
EV Nickel Completes Closing of Oversubscribed C$2.1M 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":"EV Nickel Completes Closing of Oversubscribed C$2.1M Private PlacementNOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICESTORONTO, ON / ACCESSWIRE / September 15, 2023 / EV NICKEL INC. (TSXV:EVNI) (\"EVNi\" or the \"Company\") is pleased to confirm that it has closed its previously announced non-brokered private placement of 35,000,334 units (\"Units\") of the Company at a price of C$0.06 per Unit for aggregate gross proceeds to the Company of C$2,100,020 (the \"Offering\").Pursuant to the Offering, the Company issued, in aggregate, 35,000,334 Units between tranche 1 and tranche 2. Each Unit consisted of one common share (\"Common Share\") in the capital of the Company and one common share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of C$0.09 for a period of 24 months.Securities issued under this Offering were issued pursuant to applicable prospectus exemptions under National Instrument 45-106 - Prospectus Exemptions and are subject to hold periods in accordance with applicable securities laws.EVNi intends to use the net proceeds raised from the Offering for the continued exploration and advancement of the Company's Shaw Dome Project located south of Timmins, Ontario and for general corporate purposes.In connection with the Offering, the Company paid finder's fees consisting of C$88,761 in cash and 1,479,357 in common share purchase warrants (the \"Broker Warrants\"). Each Broker Warrant entitles the holder thereof to purchase one Common Share at an exercise price of C$0.09 for a period of 24 months following the Closing Date. PowerOne Capital Markets Limited acted as a finder in connection with the Offering.About EV Nickel Inc.EVNi's mission is to accelerate the transition to clean energy. It is a Canadian nickel exploration company, focused on the Shaw Dome Project, south of Timmins, Ontario. EVNi has over 30,000 hectares to explore across the Shaw Dome and has identified >100 km of additional favourable strike length. The Shaw Dome includes the High-Grade W4 Deposit- with a Resource which defined 2.0M tonnes @ 0.98% Ni for 43.3M lbs of Class 1 Nickel across Measured, Indicated and Inferred and the Large-Scale CarLang Area with more than 10km of mineralization and where the first 20% contains the A Zone- with a Res...