Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) clarified details on its proposed private placement, aiming to raise $1,052,500 through flow-through units (FT Units) and hard dollar units (HD Units).
The offering includes up to 7.5M FT Units at $0.04 each for $300,000 and 21.5M HD Units at $0.035 each for $752,500. FT Units include one share and half a warrant; HD Units offer one share and half a warrant, exercisable at $0.07 for 36 months.
Proceeds will fund exploration at the Gochager Lake Project in Saskatchewan and general corporate purposes.