Business
Fathom Nickel Announces $4.5 Million Private Placement
Calgary, Alberta--(Newsfile Corp. - December 4, 2023) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the "Company" or "Fathom") is pleased to announ
About this update from Fathom Nickel, Inc.
[{"type":"text","content":" Calgary, Alberta--(Newsfile Corp. - December 4, 2023) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the \"Company\" or \"Fathom\") is pleased to announce a non-brokered private placement financing for aggregate gross proceeds of up to C$4,500,000 (the \"Offering\"). The Offering will consist of a combination of: (i) charity flow-through units (the \"Charity FT Units\") at C$0.17 per Charity FT Unit; (ii) flow-through units (the \"FT Units\") at C$0.13 per FT Unit; and (iii) hard dollar units (the \"HD Units\") at C$0.11 per HD Unit of the Company. Each Charity FT Unit shall consist of one charity flow-through Common Share (a \"Charity FT Share\") and one transferable Common Share purchase warrant (a \"Warrant\") that shall be exercisable into one Common Share (a \"Warrant Share\") for a period of 24 months from issuance at an exercise price of C$0.20. Each FT Unit shall consist of one flow-through Common Share (a \"FT Share\") and one Warrant and each HD Unit shall consist of one Common Share and one Warrant. The Offering will be offered by way of a non-brokered private placement financing offering to \"accredited investors\" or pursuant to the other available prospectus exemptions under National Instrument 45-106 Prospectus Exemptions in all Provinces of Canada, except Quebec, and any other jurisdictions, subject to the receipt of necessary regulatory approvals. The aggregate gross proceeds raised from the Charity FT Units and the FT Units will be used before December 31, 2024 for general exploration expenditures which will constitute Canadian exploration expenses (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\")), that will qualify as \"flow through critical mineral mining expenditures\" within the meaning of the Tax Act (the \"Qualifying Expenditures\"). The net proceeds of the Offering from the HD Units will be used for exploration and development of the Company's mineral projects and for working capital and general corporate purposes. \"The proceeds from this financing will allow Fathom to recommence field exploration programs at both the Gochager Lake Project and the Albert Lake Project in Q1-2024. The focus of the Gochager Lake Project exploration program will be following-up on the positive results from our recent drill program - most notably the growing inventory of ...