Core Nickel Announces up to $400,000 Flow-Through Private Placement Financing
Core Nickel Corp. (CSE: CNCO) has announced a non-brokered private placement offering of up to 8,000,000 flow-through units at $0.05 per unit, aiming to raise up to $400,000. Each unit consists of one flow-through common share and half a warrant, with each whole warrant allowing the purchase of one common share at $0.06 within three years of the closing date.
The proceeds will fund helicopter-borne VTEM and horizontal magnetic gradiometer geophysical surveys on the company's Mel and Odei River properties, as well as support part of the winter drilling program targeting high-priority areas identified by the 2024 VTEM surveys. All securities issued will have a four-month and one-day hold period.
Core Nickel Corp. (CSE: CNCO) ha annunciato un'offerta di collocamento privato non mediato di fino a 8.000.000 di unità flow-through a $0,05 per unità, con l'obiettivo di raccogliere fino a $400.000. Ogni unità è composta da un'azione comune flow-through e da metà di un warrant, con ogni warrant intero che consente l'acquisto di un'azione comune a $0,06 entro tre anni dalla data di chiusura.
I proventi finanzieranno sondaggi geofisici VTEM a carico di elicottero e gradiometri magnetici orizzontali sulle proprietà Mel e Odei River dell'azienda, e sosterranno parte del programma di perforazione invernale che mira a aree di alta priorità identificate dai sondaggi VTEM del 2024. Tutti i titoli emessi avranno un periodo di blocco di quattro mesi e un giorno.
Core Nickel Corp. (CSE: CNCO) ha anunciado una oferta de colocación privada no mediada de hasta 8.000.000 de unidades de flujo a $0,05 por unidad, con el objetivo de recaudar hasta $400.000. Cada unidad consiste en una acción común de flujo y media garantía, siendo cada garantía completa capaz de permitir la compra de una acción común a $0,06 dentro de tres años a partir de la fecha de cierre.
Los ingresos financiarán sondeos geofísicos VTEM aéreos y gradiómetro magnético horizontal en las propiedades Mel y Odei River de la empresa, y también apoyarán parte del programa de perforación invernal que tiene como objetivo áreas de alta prioridad identificadas por las encuestas VTEM de 2024. Todos los valores emitidos tendrán un período de retención de cuatro meses y un día.
Core Nickel Corp. (CSE: CNCO)는 중개인이 없는 민간 배치 제안을 발표하였으며, 최대 8,000,000개의 플로우스를 $0.05에 판매할 계획으로, 최대 $400,000을 모금하는 것을 목표로 하고 있습니다. 각 단위는 하나의 플로우스 보통주와 반개의 워런트로 구성되어 있으며, 각 전체 워런트는 $0.06으로 3년 이내에 하나의 보통주를 구매할 수 있게 합니다.
모금된 자금은 회사의 Mel 및 Odei River 자산에 대한 헬리콥터에서 운반되는 VTEM 및 수평 자기 기울기 측정 지구 물리학 조사에 사용되며, 2024 VTEM 조사의 높은 우선 순위 지역을 겨냥한 겨울 시추 프로그램의 일부를 지원할 것입니다. 발행된 모든 증권은 4개월 1일의 보유 기간이 있습니다.
Core Nickel Corp. (CSE: CNCO) a annoncé une offre de placement privé non intermédiée d'un maximum de 8 000 000 d'unités flow-through au prix de 0,05 $ par unité, visant à lever jusqu'à 400 000 $. Chaque unité se compose d'une action ordinaire flow-through et d'un demi-warrant, chaque warrant entier permettant l'achat d'une action ordinaire à 0,06 $ dans les trois ans
Les produits financeront des études géophysiques VTEM par hélicoptère et des gradiomètres magnétiques horizontaux sur les propriétés Mel et Odei River de l'entreprise, et soutiendront également une partie du programme de forage hivernal ciblant des zones de haute priorité identifiées par les études VTEM de 2024. Tous les titres émis auront une période de blocage de quatre mois et un jour.
Core Nickel Corp. (CSE: CNCO) hat eine nicht vermittelte Privatplatzierungsangebot von bis zu 8.000.000 Flow-Through-Einheiten zu einem Preis von $0,05 pro Einheit angekündigt, mit dem Ziel, bis zu $400.000 zu sammeln. Jede Einheit besteht aus einer Flow-Through-Stammaktie und einem halben Warrant, wobei jeder ganze Warrant den Kauf einer Stammaktie zu $0,06 innerhalb von drei Jahren nach dem Abschlussdatum ermöglicht.
Die Mittel werden zur Finanzierung von Hubschraubergetragenen VTEM- und horizontalen Magnetgradienten-Geophysikalischen Untersuchungen auf den Mel und Odei River Liegenschaften des Unternehmens verwendet und unterstützen auch teilweise das winterliche Bohrprogramm, das auf hochpriorisierte Bereiche abzielt, die durch die VTEM-Untersuchungen 2024 identifiziert wurden. Alle ausgegebenen Wertpapiere unterliegen einer Haltefrist von vier Monaten und einem Tag.
- Potential to raise up to $400,000 in additional funding
- Funds allocated for advanced geophysical surveys on 100%-owned properties
- Planned winter drilling program to target high-priority areas
- Potential dilution of existing shareholders due to new share issuance
- Offering price of $0.05 per unit may indicate low valuation of the company
Saskatoon, Saskatchewan--(Newsfile Corp. - September 13, 2024) - Core Nickel Corp. (CSE: CNCO) ("Core Nickel" or the "Company") announces that it proposes to undertake a non-brokered private placement of up to 8,000,000 flow-through units (each, a "FT Unit") at a price of
Each FT Unit will consist of one flow-through common share of the Company and one half (½) of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one common share of the Company at a price of
The gross proceeds received from the sale of the FT Units will be used for helicopter-borne Versatile Time-Domain Electromagnetics (VTEM) and horizontal magnetic gradiometer geophysical surveys across its
All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance in accordance with the policies of the CSE and applicable securities laws.
About Core Nickel
Core Nickel Corp. is a junior nickel exploration company that controls
Map: Core Nickel's Thompson Nickel Belt Properties
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Core Nickel has a large contiguous land package in the northern part of the TNB, situated approximately 16-20 km from the City of Thompson. Core Nickel's northern TNB projects consist of three properties: Mel, Hunter, and Odei River. The Mel property encompasses the Mel deposit, which is characterized by a historical NI-43-101 resource estimate with an indicated resource of 4.3 million tonnes at
The Company also holds two properties in the central TNB near Wabowden: Halfway Lake and Resting Lake. Both properties host the target Pipe Formation associated with known elevated nickel mineralization and are proximal to existing nickel deposits, mills, and other infrastructure.
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Caitlin Glew, P. Geo., Vice-President Exploration for Core Nickel Corp., who has reviewed and approved its contents.
References
1 "Technical Report on the Mel Deposit, Northern Manitoba" prepared for Victory Nickel Inc, Shane Naccashian (P. Geo.) of Wardrop Engineering Inc., March 9, 2007
Technical Disclosure
The historical results contained within this news release have been captured from Manitoba Integrated Mining and Quarrying System ("iMaQs") as available and may be incomplete or subject to minor location inaccuracies. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject properties.
On behalf of the Board of Directors
"Misty Urbatsch"
Misty Urbatsch
CEO, President and Director
Core Nickel Corp.
Contacts:
| Misty Urbatsch, CEO and President | General Enquiry |
| Tel: 306-668-6927 | Tel: 306-668-6927 |
| Email: murbatsch@corenickel.com | Email: info@corenickel.com |
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223372
FAQ
What is the purpose of Core Nickel's (CNCOF) $400,000 flow-through private placement?
What are the terms of Core Nickel's (CNCOF) flow-through units in the private placement?
How long is the hold period for securities issued in Core Nickel's (CNCOF) private placement?
What exploration activities will Core Nickel (CNCOF) conduct with the funds raised?
