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First Atlantic Announces a No Warrant Private Placement Financing to Advance the Pipestone XL Project
Vancouver, British Columbia--(Newsfile Corp. - December 17, 2025) - First Atlantic Nickel Corp. (...
About this update from First Atlantic Nickel & Cobalt Corp.
[{"type":"text","content":"First Atlantic Announces a No Warrant Private Placement Financing to Advance the Pipestone XL ProjectVancouver, British Columbia--(Newsfile Corp. - December 17, 2025) - First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) (\"FAN\" or the \"Company\") announces a fully allocated non-brokered private placement (the \"Offering\") of flow-through common shares only, with no warrants, for aggregate gross proceeds of up to $2,944,780 from the sale of a combination of the following:Up to 4,971,219 charity flow-through common shares (each, a \"CFT Share\") issued at a price of $0.2432 per CFT Share on a \"flow-through\" basis pursuant to the Income Tax Act (Canada); and up to 8,265,618 flow-through common shares of the Company (each, a \"FT Share\") issued at a price of $0.21 per FT Share on a \"flow-through\" basis pursuant to the Income Tax Act (Canada).The proceeds of the Offering will be used on the Company's Pipestone XL Nickel Alloy Project located in Newfoundland, 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\"), on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers effective December 31, 2025. The Company intends to use the proceeds to immediately advance drilling and exploration at the RPM Zone, test newly identified drill targets on the Pipestone XL Project, and expand the scope and scale of its metallurgical recovery and processing program.Please call 844-592-6337 or email [email protected] to connect with Rob Guzman, First Atlantic Nickel's Investor Relations, for questions or more information.PIPESTONE XL ALLOY PROJECTThe Pipestone XL Nickel Alloy Project spans the entire 30-kilometer Pipestone Ophiolite Complex in central Newfoundland, a continuous belt of serpentinized ultramafic rocks enriched in nickel and chromium. First Atlantic holds 100% control of the complex, which hosts multiple discovery zones including the RPM Zone, Super Gulp, Atlantic Lake, and Chrome Pond, all containing awaruite (Ni₃Fe), a naturally occurring nickel-iron-cobalt alloy with approximately 75% nickel content.Figure 1: Pipestone XL Alloy Project showing awaruite target zones along 30km trend over total magnetic intensity (TM...