Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) announced changes to its previously disclosed non-brokered unit offering, adding a flow-through (FT) unit component in response to demand.
FT Units will be priced at $0.04 each, consisting of one common share and half a warrant. Each full warrant is exercisable for an additional share at $0.07 for 36 months.
The offering price for hard dollar (HD) units has been amended to $0.035 per unit, with a maximum gross proceeds target of $750,000 under the Listed Issuer Financing Exemption.
Proceeds from FT Units are designated for Canadian exploration expenses, qualifying as critical mineral mining expenditures under Canadian tax law, to be spent by the end of 2025.
Funds from HD Units will support exploration and development at Fathom’s mineral projects, as well as general corporate purposes.
The offering is expected to close around November 21, 2024.
Fathom is an exploration company focused on discovering magmatic nickel sulphide deposits to meet the increasing demand from the global electric vehicle market and strengthen the supply of critical minerals within North America.