North American Nickel (TSX.V:NAN) is a mineral exploration company whose flagship property is the Maniitsoq property in Greenland. Maniitsoq is a district scale project covering numerous high-grade nickel-copper sulphide occurrences. The 70km plus long belt is situated along, and near, the southwest coast of Greenland, which is ice free year round.



Latest News Release

North American Nickel Inc. Closes First Tranche of $10m Private Placement

North American Nickel Inc. has closed the first tranche of its previously announced private placement of units of the company, with each unit consisting of one common share of the company and one-half of one common share purchase warrant, with each whole warrant entitling the holder thereof to purchase one common share at an exercise price of 30 cents per common share for a period of 24 months from its date of issuance (see the company's news release dated July 6, 2015). Gross proceeds of $6,391,897.38 were raised through the issue of 29,054,079 Units pursuant to the Offering.


In addition, 251,370 compensation options were issued and a cash payment of $55,301.40 was made to the Agents under the Offering (Paradigm Capital Inc. and Edgecrest Capital Corporation, the "Agents") in respect of sales to subscribers not on the President's List. Each compensation option is exercisable for a common share at a price per common share of $0.22 for a period of 24 months from its date of issuance.


All securities issued pursuant to the Offering are subject to a hold period ending on the day that is four months and one day from the date of closing of the Offering, in accordance with applicable Canadian securities laws.


Sentient Executive GP IV, Limited (for the general partner of Sentient Global Resources Fund IV, L.P.) ("Sentient") subscribed for a total of 20,942,931 Units under the Offering. Sentient, which is an insider and a related party of the Company, now beneficially owns, or exercises control or direction over, 102,714,216 Common Shares (or, approximately 50% of the issued and outstanding Common Shares).


The net proceeds of the financing will be used to fund the Company's 2015 exploration and zone drilling programs at its 100% owned Maniitsoq nickel sulphide project in south western Greenland, and to provide additional working capital.



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