Units of one share and a two-year warrant sold at C$0.18 per unit
By Devika Patel
Knoxville, Tenn., Jan. 27 - Hard Creek Nickel Corp. said it raised C$375,800 in the first tranche of a C$1.51 million non-brokered private placement of units. The deal priced for C$1.01 million Jan. 9 and was increased on Jan. 24.
The company is selling 8.4 million units of one share and a warrant at C$0.18 per unit. It sold 2,087,778 units in the initial tranche.
Each warrant will be exercisable at C$0.25 for two years. This is a 25% premium over the company's C$0.20 closing share price on Jan. 6.
Proceeds will be used for general working capital.
Hard Creek Nickel is based in Vancouver, B.C. It is developing the Turnagain nickel deposit, a nickel sulphide deposit in north central British Columbia.
| Issuer: | Hard Creek Nickel Corp.
|
| Issue: | Units of one share and a warrant
|
| Amount: | C$1,512,000
|
| Units: | 8.4 million
|
| Price: | C$0.18
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 9
|
| Revised: | Jan. 24
|
| Settlement date: | Jan. 27 (for C$375,800)
|
| Stock symbol: | Toronto: HNC
|
| Stock price: | C$0.20 at close Jan. 6
|
| Market capitalization: | C$13.15 million
|
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