Business
Nickel North Announces Update to Flow Through Private Placement
Vancouver, British Columbia--(Newsfile Corp. - July 19, 2022) - Nickel North Exploration Corp....
About this update from Nickel North Exploration Corp.
[{"type":"text","content":"Nickel North Announces Update to Flow Through Private PlacementVancouver, British Columbia--(Newsfile Corp. - July 19, 2022) - Nickel North Exploration Corp. (TSXV: NNX) (the \"Company\" or \"Nickel North\") wishes to change the price of the announced non-brokered flow through private placement (the \"FT Private Placement\") previously announced on May 26, 2022. It will offer of up to 6,000,000 flow through units (the \"FT Units\") at $0.05 per FT Unit for gross proceeds of up to $300,000.Each FT Unit will consist of one Share and one non-transferable share purchase warrant (the \"FT Warrants\"). Each whole FT Warrant will entitle the holder to purchase one Share at $0.075 per Share. The FT Warrants will have an expiry date of two years from the date of issuance, subject to acceleration described as follows:The FT Warrants shall be callable by the Company should the daily volume-weighted average trading price of the common shares of the Company on the Exchange equal or exceed $0.20 for a period of five (5) consecutive trading days, at any time during the period (i) beginning on the date that is one (1) month from the closing date of the FT Private Placement, and (ii) ending on the date the FT Warrants expire (\"FT Call Trigger\"). Following a FT Call Trigger, the Company may give notice by way of a news release (\"FT Call Notice\") to the holders of FT Warrants that any FT Warrant that remains unexercised by the holder thereof shall expire thirty (30) days following the date on which the FT Call Notice is given.The FT Private Placement is subject to regulatory approval. All securities to be issued pursuant to the FT Private Placement are subject to a four-month hold period under applicable Canadian securities laws. All funds are denominated in Canadian dollars. A finder's fee commensurate with regulatory policies may be paid if applicable.Proceeds from the issuance of the FT Units will be used for field exploration programs on the Hawk Ridge Ni-Cu-PGE-Co project in 2022.About Hawk Ridge Ni-Cu-PGE Co Project, QuebecThe Hawk Ridge project is a 100% owned project spanning 173km with a 50km long belt with a total Inferred Mineral Resources for four mineralized deposits (Hope Advance Main (HAM), Hope Advance North (HAN), Gamma and Falco 7) recently updated to 34.66 Mt at 0.22%, 0.56% Cu, 0.013% Co, 0.19 g/t Pd, 0.05 g/t Pt and 0.025 ...