Canada Nickel Company Inc V.CNC

CNC is Brilliant

[Stocks2Go]

They pulled this financing off while thev LME was closed. Well done!

CANADA NICKEL ANNOUNCES UPSIZE OF BOUGHT DEAL PUBLIC OFFERING TO C$45.0 MILLION

Due to significant investor demand, Canada Nickel Company Inc. has agreed to amend its agreement with Red Cloud Securities Inc., as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters that includes Clarksons Platou Securities AS, to increase the size of the company's previously announced offering from $25-million to $45-million. Under the revised offering, the underwriters have agreed to purchase for resale the following equity securities of the company on a bought deal basis to raise aggregate gross proceeds to the company of $45-million:

 

• 8,325,806 common shares of the company at a price of $3.10 per common share;
• 3,424,658 flow-through shares of the company to be sold to traditional flow-through purchasers at a price of $3.65 per traditional FT share;
• 1.5 million FT shares to be sold to charitable purchasers at a price of $4.46 per charity FT share

[reddog11]

Not really. The deal was anounced  the day of the LME shutdown so had to be in the works prior. The deal resulted in the share knock down that day of the PP announcement. Pretty sure thats the case.

[Stocks2Go]

Then very lucky timing....

[reddog11]

..or a bit unlucky. If nickel stays ove $15 / pound then thet could have comanded a better financing price. However that would be 20/20 hindsight, so not complaining.