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NiCAN Announces Closing of Non-Brokered Private Placement with Strategic Investor Michael Gentile for Gross Proceeds of $1,270,000
NiCAN Announces Closing of Non-Brokered Private Placement with Strategic Investor Michael Gentile...
About this update from Nican Ltd.
[{"type":"text","content":"\n\n\nNiCAN Announces Closing of Non-Brokered Private Placement with Strategic Investor Michael Gentile for Gross Proceeds of $1,270,000\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/All monetary amounts are expressed in Canadian Dollars, unless otherwise indicated.TORONTO, March 12, 2026 /CNW/ - NiCAN Limited (\"NiCAN\" or the \"Company\") (TSXV: NICN) (OTCQB: NILTF) (FRA: W8Y) announces the closing of its previously announced non-brokered private placement for aggregate gross proceeds of $1,270,000 and welcomes Michael Gentile as a strategic investor. As of the closing of the Offering (as defined below), Mr. Gentile holds 19.99% of NiCAN's common shares (\"Common Shares\") on a non-diluted basis and 21,400,000 warrants to purchase additional Common Shares. As further described below, Mr. Gentile has undertaken not to exercise any such warrants if doing so would result in his securityholding percentage in NiCAN increasing beyond 19.99% without required shareholder and exchange approvals.\n\n\n\n\n\n\n\nBrad Humphrey, President and CEO of NiCAN, commented, \"NiCAN is thrilled to welcome Michael as a strategic investor. Michael is a prominent junior mining investor known for his capital markets expertise and has a proven track record of identifying undervalued situations. We greatly appreciate Michael's continued support, deep sector knowledge and broad network which provides NiCAN with an invaluable resource as we move our assets forward. This private placement enables NiCAN to continue to build on its recent successes at the Pipy Project in Thompson, Manitoba.\" Transaction DetailsNiCAN has closed its previously announced non-brokered private placement for aggregate gross proceeds of $1,270,000 (the \"Offering\"), pursuant to which 17,900,000 Units (as defined below) were acquired by strategic investor Michael Gentile (the \"Strategic Inves...