North American Nickel Inc. Closes $9.38M Non-Brokered Private Placement
29 Mayo 2014 - 11:07AM
Marketwired
North American Nickel Inc. Closes $9.38M Non-Brokered Private
Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 29, 2014) -
North American Nickel Inc. (TSX-VENTURE:NAN)(OTCBB:WSCRF) (CUSIP:
65704T 108) (the "Company") is pleased to announced that it has
closed its previously announced non-brokered private placement (See
Company news release dated May 8, 2014). Gross proceeds of
$9,379,970 were raised through the issue of 28,424,152 common
shares pursuant to the private placement. In addition, 50,000
common shares were issued as a finder's fee in connection with the
private placement.
All securities issued pursuant to the private placement are
subject to a hold period and may not be traded until September 30,
2014.
Sentient Executive GP IV, Limited (for the general partner of
Sentient Global Resources Fund IV, L.P.) ("Sentient") subscribed
for a total of 11,739,425 common shares in the financing. Sentient,
which is an insider and a related party of the Company, now
beneficially owns, or exercises control or direction over,
69,866,523 common shares (or, approximately 41.2% of the issued and
outstanding common shares) of the Company.
VMS Ventures Inc. ("VMS") subscribed for a total of 3,787,879
common shares in the financing. VMS, which is an insider and a
related party of the Company, now beneficially owns, or exercises
control or direction over, 37,377,583 common shares (or,
approximately 22.0% of the issued and outstanding common shares) of
the Company. VMS also has warrants entitling it to acquire up to an
additional 5,882,352 common shares of the Company.
The proceeds of this financing will be used to fund the
Company's 2014 exploration and drill program for its highly
prospective Maniitsoq Ni-Cu-Co-PGE project in southwest Greenland
and general working capital purposes.
About North
American Nickel
North American Nickel is a mineral exploration company with 100%
owned properties in Maniitsoq, Greenland, Sudbury, Ontario, and the
Thompson, Manitoba nickel belt.
The Maniitsoq property in Greenland is a Camp scale project
comprising 3,601 square km covering numerous high-grade
nickel-copper sulphide occurrences associated with norite and other
mafic-ultramafic intrusions of the Greenland Norite Belt (GNB). The
>75km-long belt is situated along, and near, the southwest coast
of Greenland, which is pack ice free year round.
The Post Creek/Halcyon property in Sudbury is strategically
located adjacent to the past producing Podolsky
copper-nickel-platinum group metal deposit of KGHM International
Ltd. The property lies along the extension of the Whistle Offset
dyke structure. Such geological structures host major Ni-Cu-PGM
deposits and producing mines within the Sudbury Camp.
Statements about the Company's future expectations and all other
statements in this press release other than historical facts are
"forward looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934 and as that term defined
in the Private Litigation Reform Act of 1995. The Company
intends that such forward-looking statements be subject to the safe
harbours created thereby. Since these statements involve risks and
uncertainties and are subject to change at any time, the Company's
actual results may differ materially from the expected results.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark, CEO
North American Nickel Inc.
Neither the
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
North American Nickel Inc.Evan Sleeman604-986-2020Toll free:
1-866-816-0118
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