- Canada Nickel (CNC) has filed a preliminary short-form prospectus for its $18 million bought-deal offering
- The offering is expected to close on or around March 2, 2023
- The company has also optioned 170 single-cell mining claims and 23 boundary-cell mining claims in Timmins, Ontario
- Canada Nickel Company is advancing nickel-cobalt sulphide projects to feed the electric vehicle and stainless steel markets
- Canada Nickel Company (CNC) is down by 0.57 per cent, trading at $1.74 per share
Canada Nickel (CNC) has filed a preliminary short-form prospectus for its $18 million bought-deal offering.
The offering consists of the following:
- 7,462,500 common shares priced at $1.77 each
- 1,748,300 common shares – issued as flow-through shares within the meaning of the Income Tax Act (Canada) – priced at $2.86 each
- Total gross proceeds amount to $18,208,763
The offering is expected to close on or around March 2, 2023.
Scotia Capital is acting as lead underwriter and sole bookrunner, together with a syndicate of underwriters, including Red Cloud Securities, Cormark Securities, Echelon Wealth Partners, Haywood Securities and Research Capital Corporation.
New option agreement
Canada Nickel has also signed an option agreement to earn a 100-per-cent interest in 170 single-cell mining claims and 23 boundary-cell mining claims in Timmins, Ontario.
Consideration includes annual expenditure commitments, the issuance of up to a total of 100,000 common shares, and $90,000 in payments over the option term.
The vendors will retain a 2-per-cent NSR with a 1-per-cent buyback provision for $1 million.
Common shares issued will be subject to a four-month hold period.
Canada Nickel Company is advancing nickel-cobalt sulphide projects to feed the electric vehicle and stainless steel markets. It is also developing processes to produce net-zero carbon nickel, cobalt and iron products.
Canada Nickel Company (CNC) is down by 0.57 per cent, trading at $1.74 per share as of 9:41 am EST.
