North American Nickel Announces Brokered Private Placement of Up to $10 Million

North American Nickel Inc. (TSXV:NAN,OTCBB:WSCRF) announced a brokered private placement for gross proceeds of up to C$10 million. The number and price of units to be sold will be determined by “the context of the market.”

The offering is expected to close on July 7, 2015.

As quoted in the press release:

Each Unit will be comprised of one common share (a ‘Common Share’) of the Company and one half of one common share purchase warrant, each whole warrant entitling the holder thereof to acquire one Common Share of the Company at a price and for a period from the closing of the Offering to be determined in the context of the market. The Offering is subject to approval by the TSX-Venture Exchange.

The net proceeds of the financing will be used to fund the Company’s 2015 exploration and zone drilling programs at its 100% owned Maniitsoq nickel sulphide project in south western Greenland, and to provide additional working capital.

The Company has agreed to pay the Agents a cash fee equal to 7.0% of the gross proceeds from the Offering. As additional compensation, the Agents will be issued compensation options entitling the Agents to purchase that number of Common Shares equal to 7.0% of the number of Units sold under the Offering exercisable at the Issue Price for a period of 24 months from the closing date of the Offering.

Click here to read the full North American Nickel Inc. (TSXV:NAN,OTCBB:WSCRF) press release.