North American Nickel Inc. has filed a preliminary short form prospectus in connection with a proposed marketed offering of units of the company for gross proceeds of up to $15-million. The offering will be conducted on a best-effort basis through Paradigm Capital Inc. acting as agent.
The offering will be priced in the context of the market with the specifics of the offering to be determined at the time of pricing.
The company intends to use the net proceeds of the offering for the commencement of a work program and additional exploration and drilling activities to be completed at the company's Maniitsoq project in Greenland, as well as for general corporate and working capital purposes.
The offering is being made pursuant to a short form prospectus filed in each of the provinces of British Columbia, Alberta, Manitoba and Ontario. A copy of the preliminary short form prospectus, which contains important information relating to the units, is available on SEDAR. There will not be any sale or any acceptance of an offer to buy the units until a receipt for the final prospectus has been issued.
The offering is expected to close on or about May 4, 2017, 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 and the entering into by the company and the agent of an agency agreement.
About North American Nickel Inc.
North American Nickel is a mineral exploration company with 100-per-cent-owned properties in Maniitsoq, Greenland, and Sudbury, Ont.
The Maniitsoq property in Greenland is a camp-scale project comprising 2,985 square kilometres covering numerous high-grade nickel-copper sulphide occurrences associated with norite and other mafic-ultramafic intrusions of the Greenland norite belt.
The Post Creek/Halcyon property in Sudbury is strategically located adjacent to the past-producing Podolsky copper-nickel-platinum group metal deposit of KGHM International Ltd.