North American Nickel Announces Non- Brokered Private Placement Financing of up to $1.5 Million
North American Nickel Announces Non-
Brokered Private Placement Financing of up to
$1.5 Million
Vancouver, British Columbia--(Newsfile Corp. - March 30, 2021) -
North American Nickel Inc. (TSXV:
NAN) (OTCQB: WSCRF) (CUSIP: 65704T 405)
(the "
Company
") announces that it intends to
complete a non-brokered private placement (the
"Placement"
) of units (
"Units"
) to raise up to
$1,500,000. The Placement will be by way of private placement to eligible purchasers for up to
6,250,000 Units at $0.24 per Unit.
Each Unit will consist of one common share in the capital of the Company and one half transferable
common share purchase warrant ("
Warrant
") of the Company.
Each full Warrant will entitle the holder to
acquire one common share of the Company at any time prior to 5:00 p.m. (Toronto time) on the date that
is twenty-four (24) months following its issuance date, at a price of $0.35.
If the closing market price of the Common Shares on the TSX Venture Exchange ("
TSXV
") is greater
than $0.60 per Common Share for a period of ten (10) consecutive trading days any time after the four-
month anniversary of the closing of the Placement, then the Company may deliver a notice (the
"
Acceleration Notice
") to the holder notifying the holder that the Warrants must be exercised within
thirty (30) calendar days from the date of the Acceleration Notice, otherwise the Warrants will expire at
5:00 p.m. (Toronto time) on the thirtieth (30th) calendar day after the date of the Acceleration Notice.
The Units (and securities underlying the Units) issued under the Placement will be subject to a four-month
and one day hold period from the date of closing. The closing of the Placement is subject to, among
other things, approval of the TSXV.
The Company intends to allocate a portion of the gross proceeds of the Placement for continued
investment in Premium Nickel Resources, further exploration in Morocco, activities to be completed at
the Company's Maniitsoq project in Greenland and for general corporate and working capital purposes.
The Company continues to evaluate ways to increase its participation in Premium Nickel Resources.
This press release does not constitute an offer of securities for sale in the United States or to "U.S.
persons" ("
U.S. persons
"), as such term is defined in Regulation S promulgated under the United
States Securities Act of 1933, as amended, (the "
U.S. Securities Act
"). The securities being offered
have not been, nor will be, registered under the U.S. Securities Act or any state securities laws, and may
not be offered or sold in the United States or to U.S. persons absent registration or an applicable
exemption from such registration requirements.
About North American Nickel
North American Nickel is a mineral exploration company with 100% owned properties in Maniitsoq,
Greenland and Ontario, Canada. In 2019 the Company became a founding shareholder in Premium
Nickel Resources ("
PNR
") a private Canadian company, to provide direct exposure to Ni-Cu-Co
opportunities in the southern African region. PNR completed a Memorandum of Understanding to
acquire the assets, in liquidation, formerly operated by BCL Limited in Botswana. In addition, the
Company is expanding its area of exploration interest into Morocco and building a relationship with the
Office National des Hydrocarbures et des Mines ("
ONHYM
"), the leading resource crown corporation
and the single largest permit holder in Morocco.
The Maniitsoq property in Greenland is a Camp scale permitted exploration project comprising 3,048
square km covering numerous high-grade nickel-copper + cobalt sulphide occurrences associated with
norite and other mafic-ultramafic intrusions of the Greenland Norite Belt (GNB). The >75km-long belt is
situated along, and near, the southwest coast of Greenland and is accessible from the existing Seqi
deep water port with an all-year-round shipping season and hydroelectric power potential from a
quantified watershed.
The Post Creek/Halcyon property in Sudbury is strategically located adjacent to the past producing
Podolsky copper-nickel-precious metal sulphide deposit of KGHM International Ltd. The property lies
along the extension of the Whistle Offset dyke structure. Such geological structures host major Ni-Cu-
PGM deposits and producing mines within the Sudbury Camp.
The Company acquired 100% ownership of property near the southern extent of the Lingman Lake
Greenstone Belt in northwest Ontario known as Lingman Nickel and in the Quetico region near Thunder
Bay Ontario. The acquisition of these properties is part of the Company's strategy to develop a pipeline
of new nickel projects. The Company is evaluating direct and indirect nickel asset acquisition
opportunities globally.
ON BEHALF OF THE BOARD OF DIRECTORS
Keith Morrison
Chief Executive Officer
North American Nickel Inc.
For more information contact:
North American Nickel Inc.
Jaclyn Ruptash
Corporate Communications
+1 (604) 770-4334
Toll Free: 1-833-770-4334
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
: This news
release includes certain "forward-looking statements" and "forward-looking information" under
applicable Canadian securities legislation concerning the business, operations and financial
performance and condition of the Company. Forward-looking statements and forward-looking
information include, but is not limited to, statements about the future prospects of any assets or
properties of the Company, the ability of the Company to successfully complete due diligence, the ability
of the Company to access capital, any spending commitments, the success of exploration activities, the
future economics of minerals including nickel and copper, the benefits of the development potential of
the properties of the Company, the benefits of drilling and advancement of projects. Forward-looking
information is necessarily based upon a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties, and other factors, which may cause
the actual results and future events to differ materially from those expressed or implied by such forward-
looking information. There can be no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking information. All forward-looking information
contained in this press release is given as of the date hereof and is based upon the opinions and
estimates of management and information available to management as at the date hereof. The
Company disclaims any intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, except as required by law.
Although the Company has attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be anticipated, estimated or intended. Statements
concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking
statements to the extent they involve estimates of the mineralization that will be encountered if the
property is developed.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE
UNITED STATES.
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