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Fathom Nickel Announces Upsizing of Previously Announced Private Placement to $3 Million
Calgary, Alberta--(Newsfile Corp. - May 8, 2023) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the "Company" or "Fathom") is pleased to announce th
About this update from Fathom Nickel, Inc.
[{"type":"text","content":" Calgary, Alberta--(Newsfile Corp. - May 8, 2023) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the \"Company\" or \"Fathom\") is pleased to announce that, based on very strong demand for its previously announced best efforts non-brokered private placement financing, the Company has upsized the gross proceeds to up to C$3,000,000 (the \"Upsized Offering\"). All other terms of the Upsized Offering remain unchanged: the Upsized Offering will consist of any combination of: (i) charity flow-through units (the \"Charity FT Units\") at C$0.19 per Charity FT Unit; (ii) flow-through units (the \"FT Units\") at C$0.155 per FT Unit; and (iii) hard dollar units (the \"HD Units\") at C$0.135 per HD Unit of the Company. Crescat Capital LLC (\"Crescat\") has agreed to make a strategic investment for up to 25% of the Offering. 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 (\"Charity 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-half of a transferable Common Share purchase warrant (the \"Unit Warrant\"), with one whole Unit Warrant exercisable into a Warrant Share for 24 months from issuance at an exercise price of C$0.23. Each HD Unit shall consist of one Common Share and one Warrant. The Upsized Offering will be offered by way of a non-brokered \"best efforts\" 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 the Province of Quebec, and any other jurisdictions, subject to the receipt of necessary regulatory approvals. The aggregate gross proceeds raised from the Charity FT Units and 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 Upsize...