Canada Nickel To Conduct $10.0 Million Flow Through Bought Deal Financing

Canada Nickel Company (TSXV: CNC) is looking to raise further funds to explore its properties. The firm last night announced that it would be conducting a $10.0 million bought deal financing of flow through units.

The financing will see the company sell approximately 2.4 million shares at a price of $4.10 per flow through share. No warrant is included within the offering. A 15% over-allotment option has also been issued in connection with the financing.

Funds are reportedly to be used to fund the exploration of the Crawford Nickel Sulphide project, with the financing enabling the firm to “remain well-funded through the end of the year.”

The offering is expected to close July 27, 2021.

Canada Nickel last traded at $3.58 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.

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