Transactions

Peterson McVicar Acts for Red Cloud in Canada Nickel Company Inc. Upsize of Previously Announced Bought Deal Public Offering to C$45.0 Million

On March 9, 2022 Canada Nickel Company Inc. (“Canada Nickel” or the “Company”) announced that due to significant investor demand, it had agreed to amend its agreement with Red Cloud Securities Inc. (“Red Cloud”) as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters that includes Clarksons Platou Securities AS. (collectively, the “Underwriters”), to increase the size of the Company's previously announced offering from C$25.0 million to C$45.0 million. Under the revised offering, the Underwriters have agreed to purchase for resale the following equity securities of the Company on a bought deal basis to raise aggregate gross proceeds to the Company of C$45,000,000 (the “Offering”):

 

  • 8,325,806 common shares of the Company (each, a “Common Share”) at a price of C$3.10 per Common Share; and
  • 3,424,658 flow-through shares of the Company (each, a “FT Share”) to be sold to traditional flow-through purchasers (each, a “Traditional FT Share”) at a price of C$3.65 per Traditional FT Share;
  • 1,500,000 FT Shares to be sold to charitable purchasers (each, a “Charity FT Share”) at a price of C$4.46 per Charity FT Share.

 

The Company has granted to the Underwriters an option, exercisable for a period of 30 days after and including the closing date of the Offering, to purchase any combination of additional Offered Securities for additional gross proceeds of up to 15% of the gross proceeds raised under the Offering to cover over-allotments, if any, and for market stabilization purposes.

 

Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless-steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel(TM), NetZero Cobalt(TM) and NetZero Iron(TM) and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp.

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