First Nickel Announces $5 Million Private Placement

First Nickel Inc. (TSX:FNI) reports it has entered into an agreement with Paradigm Capital Inc. and Raymond James Ltd. in for a private placement financing.

The press release is quoted as saying,

The Brokered Offering will consist of up to 28,125,000 units (the “Units”) at a price of C$0.16 per Unit. Each Unit will consist of one common share (“Common Share”) of the Company and one-half of one common share purchase warrant (each whole warrant being a “Warrant”) of the Company. Each Warrant will entitle the holder thereof to purchase one Common Share at C$0.22 and will be exercisable for a period of 24 months after the closing date.

For the complete press release, click here.