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ArcPacific Resources Corp ( (TSE:FAN) ) just unveiled an announcement.
First Atlantic Nickel Corp. has closed a non-brokered, no-warrant private placement of 4,814,816 flow-through common shares at $0.27 each, raising gross proceeds of about $1.3 million, subject to final TSX Venture Exchange approval. The securities carry a four-month-plus-one-day hold period under Canadian law, and the funds will be used for qualifying Canadian exploration expenses to be renounced to investors by the end of 2026.
Proceeds will advance large-scale district drilling across the 30-kilometre strike length of the Pipestone XL Nickel-Cobalt Alloy Project, expansion of the RPM zone, testing of new drill targets, and further metallurgical recovery and processing work. The financing strengthens the company’s ability to progress its awaruite-based nickel-cobalt project in Atlantic Canada, potentially enhancing its position in the critical minerals supply chain by pushing forward a lower-emission, sulfur-free nickel alloy resource near existing infrastructure.
More about ArcPacific Resources Corp
First Atlantic Nickel Corp. is a critical mineral exploration company focused on developing the Pipestone XL Nickel-Cobalt Alloy Project in Newfoundland and Labrador. The project covers the 30-kilometre Pipestone Ophiolite Complex, hosting awaruite, a sulfur-free magnetic nickel-iron-cobalt alloy that enables lower-impact processing and aims to reduce reliance on conventional, emissions-intensive nickel smelting and overseas processing infrastructure.
Average Trading Volume: 457,160
Technical Sentiment Signal: Buy
Current Market Cap: C$30.15M
See more data about FAN stock on TipRanks’ Stock Analysis page.