news Giga Metals arranges $1.5-million private placement
2024-07-17 13:27 ET - News Release
Mr. Mark Jarvis reports
GIGA METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Giga Metals Corp. intends to complete a non-brokered private placement of up to 10 million units at a price of 15 cents per unit to raise gross proceeds of up to $1.5-million.
Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the company for a period of three years following the closing of the private placement at an exercise price of 22 cents per warrant share.
The company plans to use the net proceeds of the private placement for general corporate purposes and working capital. Completion of the private placement is subject to certain conditions, including the receipt of the approval of the TSX Venture Exchange.
About Giga Metals Corp.
Giga Metals' core asset is the Turnagain project, located in Northern British Columbia, which contains one of the few significant undeveloped sulphide nickel and cobalt resources in the world. Turnagain is held in Hard Creek Nickel, a subsidiary owned 85 per cent by Giga Metals and 15 per cent by Mitsubishi Corp. The prefeasibility study was released in October, 2023.