Business
North American Nickel Closes Previously Announced "Best Efforts" Private Placement of $10.1 Million of Subscription Receipts
Vancouver, British Columbia--(Newsfile Corp. - April 28, 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 28, 2022) - North American Nickel Inc. (TSXV: NAN) (OTCQB: WSCRF) (the \"Company\" or \"NAN\") is pleased to announce that it has closed its previously-announced \"best efforts\" private placement offering (the \"Offering\") of 21,118,000 subscription receipts (the \"Subscription Receipts\") at a price of $0.48 per Subscription Receipt (the \"Issue Price\"), including the partial exercise of the Agents' option, for total gross proceeds of $10,136,640. Paradigm Capital Inc. acted as lead agent and sole bookrunner of the Offering (the \"Lead Agent\"), on behalf of a syndicate of agents that included INFOR Financial Inc. (together with the Lead Agent, the \"Agents\"). 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 one common share of the Company, on a one-for one basis, upon satisfaction of the Escrow Release Conditions (as defined below), subject to adjustment in certain events. The Subscription Receipts and the underlying common shares of the Company that are issuable following the satisfaction of the Escrow Release Conditions will be subject to a statutory hold period expiring four months and one day from the closing date of the Offering (the \"Closing Date\") in accordance with applicable Canadian securities laws. Subject to the satisfaction of the Escrow Release Conditions (as defined below), the net proceeds from the Offering will be used to fund exploration and development, working capital and for general corporate purposes. 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 sell or the solicitation of an offer to buy securities in the United States, nor may there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Proposed RTO Transaction The Company has entered into a definitive ...