First Nickel Inc. (TSX:FNI) announced that it has entered into a loan agreement with West Face Capital Inc. in the amount of $5M, which will be used for working capital.

As quoted in the press release:

Further to the Company’s press releases dated January 3, 2013 and February 7, 2013, FNI will be seeking to restructure outstanding indebtedness and to obtain additional, longer-term sources of financing in the near term in order to improve liquidity and continue the build-out of the Lockerby Mine.

Click here to read the full First Nickel Inc. (TSX:FNI) press release.