Business
Fathom Nickel Announces the Closing of the First Tranche of Private Placement
Calgary, Alberta--(Newsfile Corp. - May 2, 2025) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the "Company" or "Fathom") is pleased to announce that it has closed the first tranche of its non-brokered offering of units (the "Offering") previously announced on April 10, 2025. As part of this initial closing, the Company issued 35,902,500 units (the "Units") at a price of $0.03 per Unit for gross proceeds of $1,077,075. An ...
About this update from Fathom Nickel, Inc.
[{"type":"text","content":"Calgary, Alberta--(Newsfile Corp. - May 2, 2025) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the "Company" or "Fathom") is pleased to announce that it has closed the first tranche of its non-brokered offering of units (the "Offering") previously announced on April 10, 2025. As part of this initial closing, the Company issued 35,902,500 units (the "Units") at a price of $0.03 per Unit for gross proceeds of $1,077,075. An additional closing under the Offering of up to approximately $420,000 is expected on or before May 23, 2025.","length":587,"tagName":"p"},{"type":"text","content":"Each Unit under the Offering consists of one Common Share (a "Common Share") and one transferable Common Share purchase warrant (a "Warrant"). Each full Warrant shall be exercisable into one Common Share for a period of 36 months from issuance at an exercise price of $0.05.","length":294,"tagName":"p"},{"type":"text","content":"14,235,833 of the Units issued under the Offering were issued under the listed issuer financing exemption set forth under section 5A.2 ("Listed Issuer Exemption") of National Instrument 45-106 Prospectus Exemptions ("NI 45-106") and contain no resale restrictions. The remaining 21,606,667 Units were issued to accredited investors under NI 45-106 and stipulate a four-month hold on the resale of the securities.","length":432,"tagName":"p"},{"type":"text","content":"The gross proceeds of the Offering will be used by the Company for exploration-related work at the Company's Gochager Lake Project and for working capital and general corporate purposes.","length":190,"tagName":"p"},{"type":"text","content":"As consideration for services in connection with the Offering, the Company has paid to certain qualified entities ("Finders") a cash commission of $7,875 and issued 262,500 broker warrants ("Broker Warrants"). Each Broker Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.05 for a period of 36 months from issuance.","length":370,"tagName":"p"},{"type":"text","content":"Crescat Capital LLC ("Crescat") participated in the Offering with a strategic investment representing 46% of the total shares issued in the Offering. This brings Crescat's ownership/control position in F...