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Fathom Nickel Announces Size and Pricing of Previously Announced Overnight Marketed Offering
CALGARY, AB, Oct. 26, 2021 /CNW/ - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the "Company" or "Fathom") is pleased to announce today that it has
About this update from Fathom Nickel, Inc.
[{"type":"text","content":" CALGARY, AB, Oct. 26, 2021 /CNW/ - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the \"Company\" or \"Fathom\") is pleased to announce today that it has priced its previously announced overnight marketed offering of equity securities (the \"Offering\"). Pursuant to the Offering, the Company will issue 8,889,000 flow-through shares of the Company (\"FT Shares\") at a price of C$0.45 per FT Share (the \"Offering Price\") for gross proceeds of C$4,000,000. The Company has granted the Agents an option to purchase up to an additional 15% of the FT Shares sold under the Offering. The Over-Allotment Option may be exercised in whole or in part as determined by the Agents upon written notice to the Company at any time up to 30 days following the closing date of the Offering (the \"Over-Allotment Option\"). The Offering will be conducted on a commercially reasonable efforts agency basis pursuant to the terms and conditions of an agency agreement to be entered into between the Company and a syndicate of agents led by Echelon Wealth Partners Inc. (\"Echelon\") and including Sprott Capital Partners LP and Research Capital Corporation, (collectively with Echelon, the \"Agents\"). The Offering will be completed by way of a short form prospectus to be filed in the Provinces of British Columbia, Alberta, Manitoba, Ontario, and Nova Scotia (the \"Canadian Jurisdictions\"). In connection with the Offering, the Agents will be paid a cash commission equal to 7.0% of the gross proceeds of the Offering and will be issued that number of non-transferable broker warrants (\"Broker Warrants\") equal to 7.0% of the number of FT Shares sold in the Offering. Each Broker Warrant will be exercisable to acquire one common share at the Offering Price for a period of 18 months from the Closing Date. The gross proceeds of the Offering will be used by the Company to incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through mining expenditures\" as such terms are defined in the Income Tax Act (Canada) (the \"Qualifying Expenditures\") related to the Company's Albert Lake Project located in Saskatchewan, Canada on or before December 31, 2022. All Qualifying Expenditures will be renounced in favour of the subscribers effective December 31, 2021. The Offering is expected to close on or abou...