Business
Nickel Rock Closes $1,665,200 Private Placement
(TheNewswire) Coquitlam, BC - TheNewswire - February 21, 2023 - Nickel Rock Res...
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[{"type":"text","content":"Nickel Rock Closes $1,665,200 Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Coquitlam, BC -\n \n \n TheNewswire -\n \n \n February 21, 2023 -\n \n \n Nickel Rock Resources Inc. (the “\n \n \n Company\n \n \n ” or\n“\n \n \n Nickel Rock\n \n \n ”)\n \n \n (TSXV:NICL\n \n \n )\n \n \n (\n \n \n OTC:NICKLF\n \n \n )\n \n \n (\n \n \n FRA:NMK2)\n \n \n announces\n \n \n that\nit has closed a non-brokered private placement financing offering of\n33,304,000 units (“Units”) at a price of $0.05 per Unit for gross\nproceeds of $1,665,200.\n \n \n \n \n Each Unit is comprised of one common share and one\nshare purchase warrant (“Warrant”).  Each Warrant will entitle\nthe holder thereof to purchase one additional common share of the\nCompany at an exercise price of $0.065 per share for a period of five\nyears from closing, subject to TSX Venture Exchange (“Exchange”)\napproval.\n \n \n \n \n The Company also paid Finder fees in the amount of\n$40,000 cash and 3,100,500 shares in connection with the private\nplacement.  The finder fees are subject to Exchange approval.\n \n \n \n \n All securities issued in connection with the private\nplacement will be subject to a four‐month and a day hold period\nexpiring on June 22, 2023 in accordance with applicable Canadian\nSecurities Laws.\n \n \n \n \n The proceeds of the Private Placement will be used for\nexploration and development and for general working capital\npurposes\n \n \n .\n \n \n \n \n Insiders of the Company purchased a total of 500,000\nunits under the Private Placement, which is considered a related party\ntransaction within the meaning of Multilateral Instrument\n61-101\n \n \n Protection of\nMinority Security Holders in Special Transactions\n \n \n (\"\n \n \n MI\n61-101\n \n \n \").  The Company relied on the\nexemptions from the valuation and minority shareholder approval\nrequirements of MI 61-101 contained in Sections 5.5(a) and 5.7(a),\nrespectively, of MI 61-101 in respect of such insider\nparticipation.\n \n \n \n \n About Nickel Rock Resources\nInc.\n \n \n \n \n Nickel Rock Resources Inc. is a Canadian based\nexploration company whose primary listing is on the TSX Venture\nExchange.  The Company’s maintains ...