NEW YORK North American Nickel Inc. hopes to raise
Canadian $7.5 million ($7.3 million) with a non-brokered
private placement of more than 44 million common shares.
The Vancouver, British Columbia-based company said that net
proceeds of the financing will be used to fund its mineral
exploration programs and to provide additional working capital.
Existing stakeholders VMS Ventures Inc. of North Vancouver,
British Columbia, and Sentient Executive GP IV Ltd. of George
Town, Cayman Islands, intend to subscribe for 11.8 million and
16.6 million units respectively, the company said.
North American Nickel is currently developing a
nickel-copper-cobalt-PGM project in southwest Greenland and
owns properties in Sudbury, Ontario, and Thompson, Manitoba.