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Canada Nickel Announcing $4.97M Private Placement of Flow-Through Shares

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Canada Nickel (CNC.V) announced Thursday a non-brokered private placement of an aggregate of up to 2.4 million common shares of the company that will qualify as "flow-through shares", at an issue price of C$2.07 per FT Share, for aggregate proceeds of C$4.97 million.

CEO Mark Selby said, "With Crawford in the final stage towards a permitting decision expected by early summer and continued progress on government funding, this flowthrough financing will allow us to continue to advance our Timmins Nickel District where we have now published eight separate resources with a ninth coming later this quarter. We believe that the scale of the Timmins Nickel District makes us unique among nickel developers and positions us to benefit from the continued improvement in global nickel markets and renewed interest in nickel from investors."

Shares in Canada Nickel were unchanged at $1.65 yesterday.

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