Royal Nickel (RNX-T) June 12, '15 announced today that it has closed the previously announced brokered private placements of 8,571,428 flow through shares at a price of $0.35 per flow through share and 2,391,638 non-flow through units at a price of $0.275 per unit, for total gross proceeds of $3.7 million. Each unit will consist of one common share and one half of one common share purchase warrant exercisable into one common share of RNC at a price of $0.375 per common share for a period of 24 months following the closing date.
Marquest Capital Markets has acted as lead agent in connection with these placements. The syndicate also included Secutor Capital Management Corporation, Salman Partners Inc. and Euro Pacific Canada Inc.
All securities issued under the Offering are subject to a statutory hold period ending October 13, 2015 in accordance with applicable Canadian securities laws.
RNC will use the proceeds of the Offering primarily to continue to advance exploration at its West Raglan project in Quebec with respect to FT Shares as well as other development activities and general working capital purposes with respect to Units.
About Royal Nickel Corporation
Royal Nickel Corporation is a mineral resource company focused primarily on the acquisition, exploration, evaluation and development of base metal and platinum group metal properties. RNC's principal asset is the Dumont Nickel Project strategically located in the established Abitibi mining camp, in the municipalities of Launay and Trécesson, 25 kilometres northwest of Amos, Quebec. RNC also owns interests in two advanced stage nickel exploration properties: the Aer-Kidd project near Sudbury, Ontario and the West Raglan project in northern Quebec. RNC has a strong management team and Board with over 100 years of mining experience in the nickel business at Inco and Falconbridge. RNC's common shares and warrants trade on the TSX under the symbols RNX and RNX.WT.
SOURCE Royal Nickel Corporation
 Rob Buchanan, Director,
Investor Relations, T: (416) 363-0649,
www.royalnickel.com |
