Skip to content
About | Contact | Advertise | Manage Subscriptions
  1. Home
  2. Around the North

First Nickel moves ahead with $25M share offering

First Nickel Inc., whose Sudbury-area Lockerby Mine was shuttered in 2008, is going forward with a share offering for proceeds of $25 million. The offering of 208-million units at $0.
Northern Ontario Business Staff

First Nickel Inc., whose Sudbury-area Lockerby Mine was shuttered in 2008, is going forward with a share offering for proceeds of $25 million.

The offering of 208-million units at $0.12 will also be accompanied by to exchange a recent $5-million bridge loan with Resource Capital Fund IV L.P. for 44.3 million units.

The net proceeds will be used for re-commissioning and development of the Lockerby Mine, as well as related detailed engineering studies, and general corporate purposes.

Both the share offering and the bridge loan exchange are subject to regulatory approvals.