Canada Nickel upsizes its bought deal public offering to C$45M from C$25M
(Kitco News) - Canada Nickel (TSXV: CNC) announced Wednesday that due to significant investor demand, the company has agreed to increase the size of the company’s previously announced offering from C$25.0 million to C$45.0 million.
The company said it plans to use the net proceeds of the offering to repay the company’s current loan with Auramet and for general working capital and corporate purposes such as advancing the project through feasibility study.
Canada Nickel added it is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless-steel markets.
Canada Nickel noted that the company is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp.
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