Fort St. James Nickel Announces Financing
Fort St. James Nickel Corp. announces a non-brokered private placement of up to 2,000,000 units priced at $0.03 per unit, aiming to raise $60,000. Each unit consists of a common share and a full share purchase warrant valid for five years at $0.05 per share. Proceeds will be allocated for general working capital. Participation from insiders is possible, and a finder's fee may be issued to eligible finders. All securities will be subject to a four-month hold period from closing. The offering requires TSX-V approval.
- Arrangement of a financing of up to $60,000 through a private placement.
- Potential participation from company insiders may indicate confidence in the company's future.
- The financing amount is relatively small, indicating potential cash flow issues.
- Dependence on market conditions and financing availability raises uncertainties.
VANCOUVER, BC / ACCESSWIRE / September 16, 2022 / Fort St. James Nickel Corp. (TSXV::FTJ) ("FTJ" or the "Company") announces that is has arranged a non-brokered private placement of up to 2,000,000 units at a price of
The proceeds from the Private Placement will be used for general working capital purposes.
Directors, officers or other insiders of the Company may participate in the foregoing offerings, and such parties may sell securities of the Company owned or controlled by them personally through the facilities of the TSX Venture Exchange to finance participation in such offerings.
A finder's fee may be paid to eligible finders, in accordance with TSX Venture Exchange policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offering and the payment of a finder's fee are subject to approval by the TSX-V.
ON BEHALF OF THE BOARD
"Barry Brown"
President
Fort St James Nickel Corp. 604-488-3900
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com . These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Fort St. James Nickel Corp.
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FAQ
What is the purpose of Fort St. James Nickel Corp's private placement on September 16, 2022?
How much is Fort St. James Nickel Corp aiming to raise through its private placement?
What is the price per unit in the private placement by Fort St. James Nickel Corp?
What are the terms of the share purchase warrant in the private placement?
Is there any lock-up period for the securities issued by Fort St. James Nickel Corp?
