11:12:11 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



North American Nickel Inc
Symbol NAN
Shares Issued 208,581,886
Close 2016-06-30 C$ 0.075
Market Cap C$ 15,643,641
Recent Sedar Documents

N.A. Nickel files final short-form prospectus for units

2016-07-01 01:12 ET - News Release

Mr. Mark Fedikow reports

NORTH AMERICAN NICKEL FILES FINAL PROSPECTUS AND PROVIDES ADDITIONAL DETAIL IN CONNECTION WITH PROPOSED EQUITY FINANCING

North American Nickel Inc. has filed a final short-form prospectus in connection with its previously announced proposed marketed offering of units. The company will offer a maximum of 160 million units at a price of 7.5 cents per unit for aggregate gross proceeds of up to $12-million. The offering is being conducted on a best efforts agency basis through Paradigm Capital Inc. acting as agent.

Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant of the company. Each warrant will entitle the holder thereof to acquire one common share of the company at any time prior to 5 p.m. (Toronto time) on the date that is, subject to acceleration in certain circumstances, 24 months following its issuance date at a price of 12 cents.

The company has also granted the agent an option to cover overallotments, which will allow the agent to arrange for purchasers to acquire up to an additional 15 per cent of the number of units initially available under the offering. The overallotment option is exercisable, in whole or in part and subject to approval by the corporation, at any time until 12 p.m. (Toronto time) on the 30th day following the closing of the offering.

Sentient Executive GP IV Ltd. (for the general partner of Sentient Global Resources Fund IV LP) intends to invest its pro rata amount in the offering to maintain its 49-per-cent position in the capital of the company. Sentient, which is an insider and a related party of the company, beneficially owns, or exercises control or direction over, 103,666,596 common shares of the company or approximately 49 per cent of the currently issued and outstanding common shares of the company.

The company intends to use the net proceeds of the offering for exploration activities to be completed at the company's Maniitsoq project in Greenland, for the repayment of debt and for general working capital purposes.

The offering is being made pursuant to a short-form prospectus filed in each of the provinces of British Columbia, Alberta and Ontario. A copy of the short-form prospectus, which contains important information relating to the units, is available on SEDAR.

The offering is expected to close on or about July 12, 2016, or on such later date as the company and the agent may agree upon, and is subject to certain customary conditions and regulatory approvals, including the approval of the TSX Venture Exchange.

We seek Safe Harbor.

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