SPC Nickel Announces $3,000,000 Private Placement
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SPC Nickel Announces $3,000,000 Private Placement
Sudbury, Ontario (June 1 , 2023) . SPC Nickel Corp. (TSX-V: SPC) (“SPC Nickel” or the
“Company”) is pleased to announce a non -brokered private placement (the “Offering”) of
common shares (“Common Shares”) and flow-through common shares (“FT Shares”), in any
combination to raise aggregate gross proceeds of up to $3,000,000, for a maximum of 33,333,333
shares. Each Common Share will be issued at a price of $0.09 per Common Share. Each FT Share
will be issued at a price of $0.105 per FT Share.
The Company may pay to eligible finders assisting in the Offering (i) a cash commission equal to
6% of the gross proceeds raised by such finders; and (ii) such number of compensation warrants
(“Compensation Warrants”) as is equal to 6% of the total number of Common Shares and/or FT
Shares sold by such finders. Each Compensation Warrant shall be exerc isable to acquire one
Common Share at an exercise price of $0.1 05 per Common Share for a period of 12 months
following the date of issuance.
The gross p roceeds from the FT Shares issued in connection with the Offering will be used to
advance both the Company’s Lockerby East Project, located in the world -class Sudbury Mining
Camp, and the Company’s Muskox Property, located in Nunavut, NWT . In addition, such gross
proceeds will be used to incur Canadian Exploration Expenses ("CEE") that are "flow -through
critical mineral mining expenditures" (as such terms are defined in the Income Tax Act (Canada))
on the Company's mineral properties. Proceeds from the Common Shares issued in connection
with the Offering will be used for general working capital purposes.
The Offering remains subject to the approval of the TSX Venture Exchange.
About SPC Nickel Corp.
SPC Nickel Corp. is a Canadian public corporation focused on exploring for Ni-Cu-PGMs within the
world class Sudbury Mining Camp. SPC Nickel is currently exploring its key 100% owned
exploration project Lockerby East located in the heart of the historic Su dbury Mining Camp that
includes the West Graham Resource and the Crean Hill 3 property under option from Vale. SPC
Nickel also holds three additional projects across Canada including the large camp-scale Muskox
Project (located in Nunavut), the past producing Aer-Kidd Project (located in the Sudbury Mining
Camp) and the Janes Project (located 50 km northwest of Sudbury). The corporate focus is on
Sudbury, and SPC Nickel continues to look for new opportunities to add shareholder value.
Additional information regarding SPC Nickel and its projects can be found at www.spcnickel.com.
Further information is available by contacting:
Grant Mourre
Chief Executive Officer
SPC Nickel Corp.
Tel: (705) 669-1777
Email: [email protected]
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.
Except for statements of historical fact contained herein, the information in this news release constitutes "forward-looking information"
within the meaning of Canadian securities law. Such forward -looking information may be identified by words such as "plans",
"proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated
capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and
regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future eve nts
could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal
prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the contr ol of SPC
Nickel. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable
securities statutes or regulation, SPC Nickel expressly disclaims any intent or obligation to update publicly forward-looking information,
whether as a result of new information, future events or otherwise.