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North American Nickel Announces Upsize of Previously-Announced Best Efforts Private Placement to $10 Million
Vancouver, British Columbia--(Newsfile Corp. - April 8, 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 8, 2022) - North American Nickel Inc. (TSXV: NAN) (OTCQB: WSCRF) (the \"Company\" or \"NAN\"), is pleased to announce that in connection with its previously-announced best efforts private placement offering (the \"Offering\"), the Company and Paradigm Capital Inc. (the \"Lead Agent\"), on behalf of a syndicate of agents including INFOR Financial Inc., have agreed to increase the size of the Offering. The Company will now issue up to 20,834,000 subscription receipts (the \"Subscription Receipts\") at a price of $0.48 per Subscription Receipts (the \"Issue Price\") for total gross proceeds of up to $10,000,320. 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. In addition, the Company has granted the Agents an option to increase the size of the Offering by up to 15% of the base Offering size, which option shall be exercisable 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 Lead 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. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This news release does not constitute an offer to se...