SPC Nickel Corp. Announces up to $1,920,000 Private Placement

About this update from Spc Nickel Corp.

[{"type":"text","content":"SPC Nickel Corp. Announces up to $1,920,000 Private PlacementSudbury, Ontario--(Newsfile Corp. - February 15, 2022) - SPC Nickel Corp. (TSXV: SPC) (\"SPC Nickel\" or the \"Company\") is pleased to announce that it intends to raise up to an aggregate of $1,920,000 by way of a non brokered private placement.The private placement will consist of up to 9,523,810 Charity FT Units (the \"Charity FT Units\") at a price of $0.15 per Unit, for proceeds of up to $1,420,000 and up to 3,846,154 flow-through Units (the \"FT Units\") at a price of $0.13 per FT Units, for proceeds of up to $500,000 (collectively, the \"Offering\"). Each Charity FT Unit will consist of one flow through common share of the Corporation and a half share purchase warrant (each, a \"Warrant\"). Each FT Unit will consist of a flow through common share and a half Warrant. Each full Warrant issued as part of either the Charity FT Units or the FT Units will entitle the holder to purchase one additional common share (non-flow through) for a period of 18 months from closing at a price of $0.18 per common share. The Company is targeting a closing date of February 28, 2022.A finder's fee may be paid in connection with the placement to finders, as determined by mutual agreement between the Corporation and the finders and subject to regulatory approval. The finder's fee will consist of 6% cash and non transferable share purchase warrants equal to 6% of such Charity FT Units or FT Units sold to investors (\"Compensation Warrants\"). Each Compensation Warrant will permit the purchase of one common share for 18 months from closing at a price of $0.18 per share. The gross proceeds received by the Company from the sale of the Charity FT Units and FT Units will be used to incur Canadian Exploration Expenses (\"CEE\") that are \"flow-through mining expenditures\" (as such terms are defined in the Income Tax Act (Canada)) on the Company's mineral properties. The securities issued in connection with the Offering, including any Common Shares issued upon exercise of the Warrants, will be subject to a four-month restricted resale period and applicable securities legislation hold periods outside of Canada from the closing date. Completion of the private placement will be subject to all necessary approvals, including the approval of the TSX Venture Exchange. There can be no assurance that ...

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