Mr. Rob Buchanan reports
RNC MINERALS ANNOUNCES CLOSING OF OVER-ALLOTMENT OPTION IN CONNECTION WITH BOUGHT DEAL FINANCING
The underwriters of Royal Nickel Corp.'s previously announced bought deal financing, led by Haywood Securities Inc. and including Laurentian Bank Securities Inc., BMO Capital Markets, Canaccord Genuity Corp., and Macquarie Capital Markets Canada Ltd., with Red Cloud Klondike Strike Inc. as selling agent, have partially exercised their overallotment option, granted by Royal Nickel, for an additional 326,165 common shares of the company at 46 cents per common share for additional gross proceeds of $150,035.90.
The exercise of the overallotment option increases the size of the previously completed bought deal and concurrent private placement financing to a total of 19,891,165 common shares of the company for aggregate gross proceeds of $9,149,935.90.
About Royal Nickel Corp.
Royal Nickel has a 100-per-cent interest in the producing Beta Hunt gold mine located in Western Australia where a significant high-grade gold discovery -- the Father's Day vein -- was recently made. Royal Nickel has initiated a 40,000-metre drill program on near-mine exploration targets focused on the Father's Day vein area, results of which will be incorporated into an updated National Instrument 43-101-compliant mineral resource estimate targeted for Q2 2019. Royal Nickel also has a 28-per-cent interest in a nickel joint venture that owns the Dumont nickel-cobalt project, located in the Abitibi region of Quebec, which contains the second-largest nickel reserve and eighth-largest cobalt reserve in the world. Royal Nickel owns a 35-per-cent interest in Orford Mining Corp., a mineral explorer focused on highly prospective and underexplored areas of Northern Quebec.
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