Correction - Quebec Nickel Corp. Announces Private Placement of up to $5 Million Units, Flow-Through Shares and Premium Flow-Through Units
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QUEBEC NICKEL CORP.
CANADIAN SECURITIES EXCHANGE
Symbol “QNI”
CORRECTION - QUEBEC NICKEL CORP. ANNOUNCES PRIVATE PLACEMENT OF UP TO $5
MILLION UNITS, FLOW-THROUGH SHARES AND PREMIUM FLOW-THROUGH UNITS
Vancouver, British Columbia, October 20, 2021 - Quebec Nickel Corp. (CSE: QNI) (“Quebec Nickel
Corp.” or the “ Company”) is pleased to announce that it is arranging a private placement of:
(i) up to $1 million of units (each, a “Unit”), at a price of $0.24 per Unit; and (ii) up to an aggregate
of $4 million of (A) flow-through shares (each, a “FT Share”), at a price of $0. 25 per FT Share,
(B) Quebec flow-through shares (each, a “Quebec FT Share”), at a price of $0.26 per Quebec FT
Share, and (C) premium flow-through units (each, a “Premium FT Unit”), at a price of $0.42 per
Premium FT Unit, for aggregate gross proceeds of up to $5,000,000 (the “Offering”).
Each Unit shall be comprised of one common share ( “Common Share ”) in the capital of the
Company and one-half (1/2) of a transferable Common Share purchase warrant ( each whole
Common Share purchase warrant, a “Warrant”). Each Premium FT Unit shall be comprised of one
flow-through Common Share (a “ Premium FT Share ”) and one-half (1/2) of one transferrable
Warrant to be issued on a non-flow-through basis. Each Warrant shall entitle the holder thereof
to acquire one additional Common Share at a price of $0. 32 for a period of two (2) years from
the closing date (the “ Closing Date”) of the Offering. The FT Shares , Quebec FT Shares and the
Premium FT Shares will qualify as “flow-through shares” within the meaning of subsection 66(15)
of the Income Tax Act (Canada).
The net proceeds from the issuance of the Units will be used for general working capital purposes.
The gross proceeds from the issuance of the FT Shares , Quebec FT Shares and the Premium FT
Shares will be used for Canadian exploration expenses and will qualify as “ flow-through mining
expenditures”, as defined in subsection 127(9) of the Income Tax Act (Canada) and under section
359.1 of the Taxation Act (Quebec) (the “Qualifying Expenditures”), which will be incurred on or
before December 31, 2022 and renounced to the subscribers with an effective date no later than
December 31, 2021 in an aggregate amount not less than the gross proceeds raised from the
issue of the FT Shares, Quebec FT Shares and the Premium FT Shares, as the case may be . In
addition, with respect to Quebec resident subscribers of Quebec FT Shares and who are eligible
individuals under the Taxation Act (Quebec), the Canadian exploration expenses will also qualify
for inclusion in the “exploration base relating to certain Quebec exploration expenses” within the
meaning of section 726.4.10 of the Taxation Act (Quebec) and for inclusion in the “ exploration
base relating to certain Que bec surface mining expenses or oil and gas exploration expenses ”
within the meaning of section 726.4.17.2 of the Taxation Act (Quebec).
In connection with the Offering, the Company may pay finder’s fees and issue finder warrants to
eligible registrants consisting of : (i) cash finder’s fees of up to 7 % of the gross proceeds of the
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Offering; and (ii) finder warrants in an amount eq ual to up to 7% of the number of Units, FT
Shares and Premium FT Shares issued pursuant to the Offering, exercisable at a price of $0.24
per Common Share for a period of two (2) years following the Closing Date.
The Offering is anticipated to close on or about November 1, 2021, or such later date as the
Company may determine. The closing is subject to certain conditions including, but not limited
to, the receipt of all necessary regulatory and other approvals, inc luding the approval of the
Canadians Securities Exchange (CSE). All securities issued pursuant to the Offering will be subject
to a statutory hold period of four months from the date of issuance in accordance with applicable
securities legislation.
About Quebec Nickel Corp.
Quebec Nickel Corp. is a mineral exploration company focused on acquiring, exploring, and
developing nickel projects in Quebec, Canada. The Company has 100% interest in the Ducros
Group Property, consisting of 2 80 contiguous mining claims covering 15,179.72 hectares within
the Abitibi region located in Quebec, Canada. Additional information on Quebec Nickel Corp. is
available at www.quebecnickel.com
On Behalf of the Board of Directors, QUEBEC NICKEL CORP.
“David Patterson, CEO”
For further information, please contact: Elyssia Patterson, CFO
Tel: +1 (778) 683 4324
Email: [email protected]
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is
defined in the CSE policies) accepts responsibility for this release's adequacy or accuracy.
Cautionary and Forward-Looking Statements
This news release contains statements that constitute “ forward-looking statements ”. Such
forward-looking statements involve known and unknown risks, uncertainties and other factors
that may cause Quebec Nickel's actual results, performance or achievements, or developments
in the industry to differ materially from the anticipated results , performance or achievements
expressed or implied by such forward- looking statements. Forward -looking statements are
statements that are not historical facts and are generally, but not always, identified by the words
“expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and
similar expressions, or that events or conditions “ will,” “would,” “may,” “could” or “should”
occur.
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Although Quebec Nickel believes the forward-looking information contained in this news release
is reasonable based on information available on the date hereof, by their nature, forward-looking
statements involve assumptions, known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements, or other future events, to be
materially different from any future results, performance or achievements expressed or implied
by such forward-looking statements.
The forward-looking information contained in this news release represents the expectations of
the Company as of the date of this news release and, accordingly, is subject to change after such
date. Readers should not place undue importance on forward- looking information and should
not rely upon this information as of any other date. While the Company may elect to, it does not
undertake to update this information at any particular time except as required in accordance
with applicable laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall
there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful, including any of the securities in the United States of America. The
securities have not been and will not be registered under the United States Securities Act of 1933,
as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within
the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under
the 1933 Act) unles s registered under the 1933 Act and applicable state securities laws, or an
exemption from such registration requirements is available.