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Nanton Nickel arranges $2.5-million private placement

2014-10-21 15:15 ET - News Release

Mr. Adam Cegielski reports

NANTON NICKEL CORP. ANNOUNCES $2.5 MILLION SUBSCRIPTION RECEIPT FINANCING

Nanton Nickel Corp. is currently finalizing a change of business of the company to enter the digital health space as Eyecarrot Innovations Corp. The company has arranged a non-brokered private placement financing for proceeds of up to $2.5-million, which consists of 10 million subscription receipts at a price of 25 cents per subscription receipt. The proceeds of the offering will be held in escrow pending completion of the proposed change of business of the company (see press releases dated Feb. 3, 2014, and Aug. 15, 2014), following which the subscription receipts will be deemed to be exchanged, without payment of additional consideration, for one common share of the company. Should the change of business not be completed by Jan. 31, 2015, the subscribers may elect to retract the subscription receipts and have funds returned.

The company may pay finders' fees in relation to the offering, in accordance with the policies of the TSX Venture Exchange and applicable securities laws.

The proceeds of the offering, once released, will be utilized to further the company's business objections in relation to the change of business, general and administrative expenses, and working capital.

Closing of the offering is subject to certain conditions, including, but not limited to, the receipt of applicable regulatory approvals, including approval of the TSX-V.

We seek Safe Harbor.

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