Canada Nickel Company (CNC.V) plans to complete a non-brokered private placement for gross proceeds of C$15 million, it said Wednesday.
The offering will include 10 million units of the company priced at C$1.50 each, said the company. Each unit will be made up of a share and one-half of a three-year warrant, with each whole warrant entitling the holder to buy a share at a price of C$2.25, added the company.
The net proceeds are expected to be used to support permitting and engineering activities for the advancement of the company's projects, repayment of outstanding indebtedness, and working capital and general corporate purposes, said the company.
Closing of the offering is subject to certain customary conditions, it added.
The company's shares were last seen down C$0.025 to C$1.545 on the TSX Venture Exchange.
Price: $1.54, Change: $-0.03, Percent Change: -1.91%