Quebec Nickel Corp (CSE:QNI, OTCQB:QNICF) has said it is arranging a private placement for gross proceeds of up to C$10 million, with the offering to be led by EMD Financial Inc.
The company said the offering includes up to C$5 million of units at a price of C$0.20 per unit, adding that the proceeds will be used for general working capital purposes.
Each unit will be comprised of one share and one-half of a share purchase warrant, with each whole warrant entitling the holder to acquire an additional share at a price of C$0.30 for a period of two years from the closing date of the offering.
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The offering also includes up to C$2 million of flow-through shares at a price of C$0.24 per unit and up to C$3 million Quebec flow-through shares at a price of C$0.25 per share.
Quebec Nickel said the net proceeds from the issuance of the flow-through shares and Quebec flow-through shares will be used for Canadian exploration expenses and will qualify as “flow-through mining expenditures.”
Full details on the offering can be found here.
The company said the offering is anticipated to close on or about December 8, 2022, or at a such later date as it may determine, subject to certain conditions.
Quebec Nickel is a mineral exploration company focused on acquiring, exploring, the developing nickel projects in Quebec, Canada.
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