Core Nickel Secures up to $1,500,000 in Flow-through Financing
Monday, Sep 23, 2024 5:05 am ET
1min read Core Nickel Corp. (CSE: CNCO) has announced an up to $1,500,000 non-brokered private placement financing, offering flow-through units (FT Units) at $0.30 per unit. Each FT Unit consists of one common share and one warrant, exercisable at $0.30 for 36 months. The gross proceeds will fund Canadian exploration expenses related to the Company's properties in the Thompson Nickel Belt, Manitoba.
This financing round is a significant step up from the previous $400,000 round completed in September 2024, indicating growing investor confidence in Core Nickel's exploration prospects. The expected timeline for closing this Offering is not explicitly stated, but it is likely to follow the same 5 business days closing period as the previous financing round.
The price per FT Unit in this Offering is $0.30, a substantial increase from the $0.05 price in the previous financing round. This price increase reflects the Company's progress and the potential value of its nickel exploration projects.
The potential use of proceeds for this Offering, Canadian exploration expenses, differs from the previous financing round's focus on geophysical surveys and drilling programs. This shift suggests a more advanced exploration phase, with funds allocated to further define and develop the Company's nickel deposits.
Paul Reid and Marc Pais can contribute significantly to Core Nickel's exploration efforts and financing strategies. Their experience in raising capital, corporate advisory services, and exploration and development will help Core Nickel optimize its exploration programs and secure further investment.
The addition of Paul Reid and Marc Pais as strategic advisors enhances Core Nickel's ability to attract further investment and partnerships. Their reputations and track records in the mining and exploration sector will provide credibility and confidence to potential investors, fostering new opportunities for the Company.
This financing round is a significant step up from the previous $400,000 round completed in September 2024, indicating growing investor confidence in Core Nickel's exploration prospects. The expected timeline for closing this Offering is not explicitly stated, but it is likely to follow the same 5 business days closing period as the previous financing round.
The price per FT Unit in this Offering is $0.30, a substantial increase from the $0.05 price in the previous financing round. This price increase reflects the Company's progress and the potential value of its nickel exploration projects.
The potential use of proceeds for this Offering, Canadian exploration expenses, differs from the previous financing round's focus on geophysical surveys and drilling programs. This shift suggests a more advanced exploration phase, with funds allocated to further define and develop the Company's nickel deposits.
Paul Reid and Marc Pais can contribute significantly to Core Nickel's exploration efforts and financing strategies. Their experience in raising capital, corporate advisory services, and exploration and development will help Core Nickel optimize its exploration programs and secure further investment.
The addition of Paul Reid and Marc Pais as strategic advisors enhances Core Nickel's ability to attract further investment and partnerships. Their reputations and track records in the mining and exploration sector will provide credibility and confidence to potential investors, fostering new opportunities for the Company.
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