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Royal Nickel Corp
Symbol C : RNX
Shares Issued 358,784,424
Close 2018-05-31 C$ 0.17
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Royal Nickel arranges $6-million private placement

2018-05-31 16:41 ET - News Release

Mr. Rob Buchanan reports


Royal Nickel Corp. has entered into an agreement with Haywood Securities Inc. as lead agent, on behalf of a syndicate of agents, including Laurentian Bank Securities Inc., Canaccord Genuity Corp. and Red Cloud Klondike Strike Inc., whereby the agents have agreed to sell, on a best-effort private placement basis, a minimum of 40 million units of Royal Nickel, at a price of 15 cents per unit for minimum gross proceeds of $6-million. Each unit will comprise one common share in the capital of Royal Nickel and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of 21 cents for a period of 30 months following the closing of the offering. Royal Nickel has granted the agents an option, exercisable in whole or in part at any time prior to the closing of the offering, to sell up to an additional 15 per cent of the offering in units at the issue price.

Closing of the offering is expected to occur on or about June 14, 2018, and is subject to receipt of customary regulatory approvals and conditions, including approval of the Toronto Stock Exchange. The net proceeds of the offering will be used for working capital and general corporate purposes (including reduction of current indebtedness and payables) and to finance the advancement of Royal Nickel's nickel-cobalt project.

About Royal Nickel Corp.

Royal Nickel is a multiasset mineral resource company with a portfolio of gold and base metal production and exploration properties. Royal Nickel's principal assets are the producing Beta Hunt gold and nickel mine in Western Australia, a 50-per-cent interest in a nickel joint venture with Waterton that holds the Dumont nickel project in the Abitibi region of Quebec, and a 29-per-cent stake in the producing Reed mine in the Flin Flon/Snow Lake region of Manitoba, Canada.

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