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Private Placement: North American Nickel (TSXV:NAN)

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The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 6,250,000 units priced at $0.24 per unit. The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.35 for 24 months, subject to an acceleration clause.

Additional Information:

Company: North American Nickel
Website: http://www.NorthAmericanNickel.com
Stock Symbol: TSXV: NAN
Date Published: Mar 30, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

North American Nickel has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 6,250,000 units priced at $0.24 per unit.

The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.35 for 24 months, subject to an acceleration clause.

The shares are currently trading at $0.25.

The company intends to allocate a portion of the gross proceeds for continued investment in Premium Nickel Resources, further exploration in Morocco, activities to be completed at the company's Maniitsoq project in Greenland and for general corporate and working capital purposes.

The company’s main asset, the Maniitsoq project on the west coast of Greenland, is a Camp scale, permitted exploration project comprising 3,048 square kilometers covering numerous high-grade nickel-copper and cobalt sulphide occurrences within the Greenland Norite Belt.

The more than 75 kilometer-long belt is situated along, and near, the southwest coast of Greenland and is accessible from the existing deep water port with an all-year-round shipping season and hydroelectric power potential from a quantified watershed.

In 2019 the company became a founding shareholder in Premium Nickel Resources, a private Canadian company, to provide direct exposure to nickel-copper-cobalt opportunities in the southern African region.

It owns 10% ownership of Premium Nickel and has a 5-year warrant to purchase an additional 15% for US$10 million.

Premium Nickel completed a Memorandum of Understanding to acquire the assets, in liquidation, formerly operated by BCL Limited in Botswana.

The company is also expanding its area of exploration interest into Morocco and building a relationship with the Office National des Hydrocarbures et des Mines, the leading resource crown corporation and the single largest permit holder in Morocco.

A grab sample returned 1.075% nickel and 1.25% copper in a highly weathered rock.

The Post Creek/Halcyon property in Sudbury is strategically located adjacent to the past producing Podolsky copper-nickel-precious metal sulphide deposit of KGHM International Ltd.

The property lies along the extension of the Whistle Offset dyke structure. Such geological structures host major nickel-copper-PGM deposits and producing mines within the Sudbury Camp.

The company has increased its portfolio of projects in North America by acquiring two additional projects located in Northwestern Ontario as part of the company's strategy to develop a pipeline of new nickel projects, and continues to evaluate direct and indirect nickel asset acquisition opportunities globally.

For more information, please visit the company’s website at www.NorthAmericanNickel.com, contact Jaclyn Ruptash, Corporate Communications, at 604-770-4334 or by email at Jaclyn@NorthAmericanNickel.com.

I’m Megan Edwards for Investmentpitch Media