Monday, August 4, 2025

Latest

Canada Nickel To Raise $25.0 Million Via Combination Of Shares And Flow Through

After getting investors excited by conducting a post-closing bell trading halt, it appears that Canada Nickel Company (TSXV: CNC) is set to be the latest in a series of junior mining firms looking to raise funds this week. The company announced a bought deal financing roughly an hour after implementing the halt.

The financing will see the company raise gross proceeds of $25.0 million in a financing lead by Red Cloud Securities via the sale of a combination of common shares and flow through shares. Approximately half the financing is epected to be filled via the sale of 4.0 million common shares at a price of $3.10 per each. In terms of the flow through financing, the company expects to sell 3.4 million flow through shares at $3.65 per each.

No warrants are being included under the offering. A 15% over-allotment option has also been granted.

Proceeds from the offering are to be used to repay the firms short-term loan of US$10 million that it sourced via Auramet in late December. That debt has a maturity of April 5, while bearing interest at a rate of 12.68% per annum. It’s believed that most, if not all, of the proceeds from the sale of common shares will be used for this purpose. Any remaining funds are to be used for general working capital and corporate purposes.

Funds generated via the flow through financing meanwhile will be used for exploration expenses.

The financing is expected to close by April 7.

The financing follows the loan secured by the firm in late December, as well as a $12 million bought deal of flow through shares conducted in July 2021 at a price of $4.10 per flow through share. The company last reported a cash position of $3.3 million as of October 31, 2021.

Canada Nickel Corp last traded at $3.73 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

San Dimas: First Majestic Silver’s Sleeper Asset

New Gold Q2 Earnings: Record Free Cash Flow

STLLR Gold: The Tower Gold PEA

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Canada Nickel Claims New Nickel Discovery Based On Preliminary Results

Canada Nickel (TSXV: CNC) is declaring that it has made a new discovery at its...

Thursday, April 13, 2023, 08:43:58 AM

Canada Nickel Raises $34 Million From Flow Through Financing, Clearing Up Questions Over Agnico Eagle Stake

Canada Nickel Company (TSXV: CNC) provided clarity this morning to Friday’s announcement by Agnico Eagle...

Tuesday, January 2, 2024, 08:00:52 AM

Canada Nickel Company: Strong Nickel Demand Underscores The Value Of Its Properties

On February 25, Tesla’s CEO, Elon Musk, reiterated his concerns about whether Tesla can procure...

Saturday, March 6, 2021, 02:45:00 PM

Canada Nickel Suggests Its Flagship Mine Could Produce 710,000 Tonnes Of CO2 Carbon Credits Annually

Canada Nickel (TSXV: CNC) believes it has found a way to produce carbon-free nickel, cobalt...

Wednesday, July 20, 2022, 09:07:03 AM

Canada Nickel, Noble To Consolidate Nickel Assets

Canada Nickel Company Inc. (TSXV: CNC) has entered into a binding letter of intent with...

Monday, July 8, 2024, 02:01:00 PM