By Laura Lutz
Des Moines, April 17 - Independent Nickel Corp. intends to raise up to C$13 million from a private placement of flow-through shares and non flow-through units.
The company plans to sell up to 3 million flow-through shares at C$1.00 per share and up to 11,764,706 units at C$0.85 per unit.
Each unit will consist of one non flow-through share and one half-share warrant. Each whole warrant will be exercisable for one non flow-through share at C$1.00 for 18 months.
The placement will be non-brokered.
Proceeds from the flow-through shares will be used for exploration on the company's Lynn Lake nickel property. Proceeds from the units will be used to acquire the Minago and Lynn Lake royalties and for working capital.
Independent Nickel is a mining company based in Sudbury, Ont.
Issuer: | Independent Nickel Corp.
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Issue: | Flow-through shares; units of one non flow-through share and one half-share non flow-through warrant
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Amount: | C$13 million
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Agent: | Non-brokered
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Pricing date: | April 17
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Stock symbol: | TSX Venture: INI
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Stock price: | C$0.81 at close April 16
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Flow-through shares
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Shares: | 3 million
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Price: | C$1.00
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Warrants: | No
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Units
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Units: | 11,764,706
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Price: | C$0.85
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Warrants: | One half-share warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$1.00
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