TSX-V-listed Canada Nickel has announced a C$25-million bought-deal financing, which CEO Mark Selby says will provide the company with the flexibility to remain well-funded with a broader base of institutional shareholders to support the company as it continues to advance the Crawford project, in the Timmins-Cochrane camp.
The underwriters have agreed to purchase for resale on a bough-deal basis, 4.03-million shares at C$3.10 each and 3.42-million shares as flow-through shares at C$3.65 each.
Canada Nickel will use the net proceeds of the offering to repay its loan with Auramet and for general working capital and corporate purposes, such as advancing the project through feasibility study.