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First Atlantic Nickel Corp V.FAN

Alternate Symbol(s):  FANCF

First Atlantic Nickel Corp. is a Canadian mineral exploration company developing the 100%-owned Atlantic Nickel Project, a large-scale nickel deposit strategically located near existing infrastructure in Newfoundland, Canada. The Project's nickel occurs as awaruite, a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. The Project totals 21,850 hectares of wholly owned land, featuring multiple mineralized zones, and covers almost entire Pipestone Ophiolite Complex. Its Voisey's West project is located in the Churchill Province of Labrador and consists of Nickel-Copper-Cobalt-platinum-group elements (PGE) mineralization. Its Atlantis Project totals 13,675 hectares and covers a large ultramafic complex of potential mantle source, known as the St. Anthony Complex and White Hills. The Company also owns 100% interest in mining license 038152M, consisting of 12 mineral claims located in central Newfoundland, known as the RPM South claims.


TSXV:FAN - Post by User

Post by knoxton Dec 30, 2021 8:49am
251 Views
Post# 34270197

news

news
ArcPacific Resources Closes Private Placement

 

29 Dec 202120:20 ET  

Newsfile Corp

 

Vancouver, British Columbia--(Newsfile Corp. - December 29, 2021) - ArcPacific Resources Corp. (TSXV: ACP) (the "Company") is pleased to announce it has closed a non-brokered private placement of flow-through units (the "FT Offering") and non-flow-through units (the "NFT Offering") (together, the FT Offering and NFT Offering are the "Private Placement") for combined gross proceeds of $200,000.05 as set out below.

Non-Flow-Through Offering

The Company has issued 2,000,000 non-flow-through units (the "Units") at a price of $0.05 per Unit for gross proceeds of up to $100,000. Each Unit consists of one non-flow-through common share in the capital of the Company and one half of one non-flow-through common share purchase warrant (with two half warrants being "Warrant"). Each whole Warrant will entitle the holder to purchase one additional non-flow-through common share in the capital of the Company at an exercise price of $0.07 per common share for a period of two years from the date of issuance.

Flow-Through Offering

The Company has issued 1,333,334 units (the "FT Units") at a price of $0.075 per FT Unit for gross proceeds of $100,000.05. Each FT Unit consists of one flow-through common share in the capital of the Company (the "Flow-Through Shares") and one half of one non-flow-through common share purchase warrant (with two half warrants being a "Warrant"). Each whole Warrant will entitle the holder to purchase one additional non-flow-through common share in the capital of the Company at an exercise price of $0.10 per common share for a period of two years from the date of issuance. The Flow-Through Shares will qualify as flow-through shares for purposes of the Income Tax Act (Canada).

All securities issued in the Private Placement are subject to a four-month and one day hold period that expires on April 24, 2022.

The gross proceeds of the Private Placement will be used to fund exploration expenditures on the LMSL Project and for general working capital purposes. Finder's fees of $16,000 cash and 333,333 brokers warrants to purchase 200,000 Units at $0.05 (each Unit is comprised of one common share and one half of one common share purchase warrant; two half warrants will entitle the holder to purchase one additional common share at $0.07) and 133,333 Units at $0.075 (each Unit is comprised of one common share and one half of one common share purchase warrant; two half warrants will entitle the holder to purchase one additional common share at $0.10) were paid to qualified parties.

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