Canada Nickel Company Inc. has increased the size of its previously announced non-brokered private placement from gross proceeds of C$15 million to up to C$21 million, driven by strong investor demand.

The upsized financing consists of up to 14,000,000 units issued at a price of C$1.50 per unit. Each unit comprises one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share at a price of C$2.25 for a period of 36 months following the issue date.

The offering is being directed to purchasers outside of Canada under specific prospectus exemptions, meaning the securities will not be subject to a four-month hold period in Canada. The transaction is scheduled to close on or around August 28, 2026, and remains subject to customary closing conditions, including definitive documentation and the receipt of approval from the TSX Venture Exchange.

Canada Nickel plans to direct the net proceeds toward supporting permitting and engineering activities for its projects, repaying outstanding indebtedness, funding working capital, and covering general corporate purposes.

The company is advancing its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the Timmins Nickel District towards a construction decision in 2027. The current financing marks an expansion of the company's previously planned C$15 million raise, which was structured through 10,000,000 units at the same price point of C$1.50 per unit.

Alongside its flagship asset work, Canada Nickel reported high-grade drill intervals at its 100% owned Reid Nickel Sulphide Project sharing the same nickel commodity within the surrounding district in August 2026.

Read the full announcement: Canada Nickel Announces Upsize of Non-Brokered Private Placement to Gross Proceeds of up to C$21.0 Million