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SPC Nickel Closes $3.5 Million Rights Offering Backstopped by Dundee Corporation
SPC Nickel Closes $3.5 Million Rights Offering Backstopped by Dundee Corporation Canada...
About this update from Spc Nickel Corp.
[{"type":"text","content":"\n\n\n\n SPC Nickel Closes $3.5 Million Rights Offering Backstopped by Dundee Corporation\n \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\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n\n SUDBURY, ON\n \n\n ,\n \n\n July 31, 2025\n \n\n /CNW/ -\n \n SPC Nickel Corp.\n \n (TSXV: SPC) (\"\n \n SPC\n \n \" or the \"\n \n Corporation\n \n \") and Dundee Corporation (TSX: DC.A) are pleased to announce the closing of SPC's previously announced rights offering (the \"\n \n Rights Offering\n \n \"), pursuant to which the Corporation issued rights (\"\n \n Rights\n \n \") to the holders of its common shares (the \"\n \n Common Shares\n \n \") at the close of business (\n \n Toronto\n \n time) on\n \n June 24, 2025\n \n . The Corporation issued 175,000,000 Common Shares at a subscription price of\n \n $0.02\n \n per Common Share for aggregate gross proceeds of\n \n $3,500,000\n \n .\n \n\n\n\n\n\n\n\n\n The net proceeds of the Rights Offering will be used to conduct the first modern airborne geophysical surveys in over 20 years on the Corporation's 470 km\n \n 2\n \n polymetallic Muskox property and the advancement of the West Graham Deposit via a series of environmental, geotechnical and metallurgical studies. In addition, the Corporation plans to evaluate a number of very high conductivity electromagnetic targets on the broader Lockerby East property for high-grade polymetallic sulphide mineralization. The remainder of the proceeds will be used for general corporate purposes.\n \n\n In connection with the Rights Offering, the Corporation entered into a standby purchase and investor rights agreement dated\n \n June 11, 2025\n \n (the \"\n \n Standby Commitment Agreement\n \n \") with Dundee Resources Limited (the \"\n \n Standby Purchaser\n \n \"), a wholly-owned subsidiary of Dundee Corporation, pursuant to which the Standby Purchaser agreed, subject to certain terms and conditions, to exercise its basic subscription privil...