Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) concludes the first tranche of its private placement, generating $3.38M. The offering comprises 23,213,431 flow-through units at $0.13 and 3,312,095 non-flow-through units at $0.11.
The second tranche, around $1.2M, is set for mid-January 2024. Each unit includes common shares and warrants.
Flow-through proceeds fund Canadian exploration, while non-flow-through supports corporate purposes. Finders receive cash commissions and broker warrants. Doug Porter, CFO, emphasized strategic timing for tax benefits and investor preferences.