- North American Nickel Inc. (NAN) upsizes its private placement offering
- It will now issue up to 20.8 million subscription receipts for $10 million
- Each subscription receipt will be automatically exercised into a resulting issuer share on a one-for-one basis
- Net proceeds will be used to fund exploration and development, working capital and for general corporate purposes
- North American Nickel Inc. (NAN) is unchanged trading at $0.58 per share as of 4:11 p.m. ET
North American Nickel (NAN) has upsized its private placement offering.
North American Nickel will now issue up to 20.8 million subscription receipts at a price of $0.48 per subscription receipt for total gross proceeds of up to $10 million.
Each subscription receipt will be automatically exercised into a resulting issuer share on a one-for-one basis. It will be done without payment of any additional consideration and without further action on the part of the holder.
The net proceeds from the offering will be used to fund exploration and development, working capital and general corporate purposes.
In addition, North American Nickel has granted the agents an option to increase the size of the offering by up to 15 per cent of the base offering size, which can be exercisable at any time during the 48 hours before the closing date.
The offering is expected to close by April 28, or any other date that the lead agent and North American Nickel may mutually agree upon.
North American Nickel Inc. (NAN) is unchanged trading at $0.58 per share as of 4:11 p.m. ET.
