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North American Nickel Announces Best Efforts Private Placement Offering of $5 Million of Subscription Receipts
Vancouver, British Columbia--(Newsfile Corp. - April 4, 2022) - North American Nickel Inc. (TSXV: NAN) (OTCQB: WSCRF) (the "Company" or "NAN"), is pleased to an
About this update from Nexmetals Mining Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - April 4, 2022) - North American Nickel Inc. (TSXV: NAN) (OTCQB: WSCRF) (the \"Company\" or \"NAN\"), is pleased to announce that it has entered into an agreement with Paradigm Capital Inc. (the \"Agent\") to act as lead agent and sole bookrunner, on behalf of a syndicate, on a \"best efforts\" basis, for a private placement offering of subscription receipts of the Company (the \"Subscription Receipts\") for gross proceeds of $5,000,000 (the \"Offering\") at a price of $0.48 per Subscription Receipt (the \"Issue Price\"). Each Subscription Receipt shall be deemed to be automatically exercised, without payment of any additional consideration and without further action on the part of the holder thereof, into a Resulting Issuer Share (as defined below) on a one-for one basis, upon satisfaction of the Escrow Release Conditions (as defined below), subject to adjustment in certain events. The net proceeds from the Offering shall be used to fund exploration and development, working capital and for general corporate purposes. The Agent shall have the option (the \"Agent's Option\") to increase the size of the Offering by up to 15% of the base Offering size, which Agent's Option shall be exercisable, by notice in writing to the Company, at any time not less than 48 hours prior to the Closing Date. The Offering is expected to close on or about April 28, 2022 (the \"Closing Date\"), or such other date as the Agent and the Company may mutually agree, and is subject to certain conditions, including but not limited to, the receipt of all necessary approvals, including conditional approval from the TSX Venture Exchange (the \"TSXV\"). The securities issued pursuant to the Offering will be subject to applicable hold periods, including the typical four month period from Closing Date of the Offering. Proposed RTO Transaction The Company has entered into a non-binding letter of intent with Premium Nickel Resources Corporation (\"PNR\"), to complete a going public transaction by way of a reverse take-over (the \"Transaction\"). The Transaction will be completed by way of a triangular amalgamation involving PNR, the Company and a wholly-owned subsidiary of the Company to create a combined entity (the \"Resulting Issuer\") under the laws of the Province of Ontario. The final structure of the Transaction ...