North American Nickel Announces Update to Bought Deal Financing
North American Nickel Announces Update to Bought Deal
Financing
Vancouver, British Columbia--(Newsfile Corp. - December 16, 2019) -
North American Nickel Inc. (TSXV: NAN) (OTCQB:
WSCRF) (CUSIP: 65704T 108)
(the "
Company
" or "
NAN
") announces that, further to its press release dated October 31,
2019, announcing a $2,000,000 bought deal financing, the Company has agreed with lead underwriter Laurentian Bank
Securities Inc. (the "Underwriter") to amend the offering to issue to the Underwriter 2,224,666 flow-through common shares of
the Company (the "FT Shares") at a price of $0.18 per FT Share and 7,873,265 units of the Company (the "Units") at a price of
$0.18 per Unit for gross proceeds of $1,817,627.58 (the "Offering").
Each Unit issued pursuant to the Offering will consist of one
common share in the capital of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each
whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share
for a period of twenty-four (24) months following the closing date, at a price of $0.25.
All other terms of the Offering remain unchanged.
The Offering is scheduled to close on or about December 18, 2019, or such other date as may be agreed between the
Company and the Underwriter (the "Closing Date") and is subject to certain conditions, including, but not limited to, the receipt of
all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory
authorities.
All securities issued pursuant to the Offering will be subject to a hold period expiring April 19, 2020, under applicable
Canadian securities legislation.
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.
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 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-
platinum group metal 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 are
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
(604) 770-4334
Toll free: 1-866-816-0118
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 includes, but is not limited to, statements about the timing and completion of the Offering, the use of proceeds of the
Offering, the ability of the Company to obtain approval of the Offering from the TSX Venture Exchange and the ability of
regulatory approvals for the Offering. 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, including the risks identified in the Company's disclosure documents available at
www.sedar.com
. 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/50826