Canada Nickel Company Inc. has completed its upsized non-brokered private placement, raising gross proceeds of C$21 million through the issuance of 14,000,000 units priced at C$1.50 each.

Each unit comprises one common share and one-half of a common share purchase warrant. Whole warrants can be exercised to buy an additional common share at C$2.25 at any time over a 36-month period following the issue date. Securities issued to purchasers outside of Canada are not subject to a domestic hold period, while units issued to participating corporate investors carry a standard four-month hold period under applicable Canadian laws.

Avenir Minerals Limited participated in the financing by acquiring 666,667 units through the exercise of its pro rata participation rights pursuant to an existing investor rights agreement. Canada Nickel intends to direct the net proceeds from the offering toward supporting ongoing engineering and permitting activities for the advancement of its project portfolio, covering working capital and general corporate requirements, and paying down outstanding debt.

Canada Nickel is anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project located in the Timmins Nickel District of Ontario, where the company is advancing the development of its nickel-sulphide assets to supply the electric vehicle and stainless-steel markets.

The closing of the private placement arrives alongside several upcoming capital and operational milestones for Canada Nickel as it manages its near-term debt obligations and larger funding initiatives. A US$32 million loan facility with Auramet International, Inc. is currently scheduled for repayment on November 9, 2026. Looking further ahead, Canada Nickel expects its proposed debt financing of up to US$600 million with SB1 Markets AS to be arranged by the end of 2026. That facility is designed to monetize investment tax credits expected to be generated during construction, operating as bridge financing in advance of the company targeting a final investment decision for the Crawford project in 2027.

Read the full announcement: Canada Nickel Closes Non-Brokered Private Placement for Gross Proceeds of C$21.0 Million