First Atlantic Nickel Raises $3.1 Million in First Tranche of No-Warrant Financing

ArcPacific Resources Corp ( (TSE:FAN) ) has issued an update.

First Atlantic Nickel Corp., a Newfoundland-based mineral exploration company focused on awaruite nickel-iron-cobalt alloy at its Pipestone XL project, has its shares listed in Canada, the U.S. over-the-counter market, and several German exchanges. The company is advancing a portfolio that includes Pipestone XL and Ophiolite-X while managing mineral claims and related obligations.

First Atlantic closed the first tranche of its non-brokered, no-warrant listed issuer financing, issuing 17,036,609 common shares at $0.18 each for gross proceeds of about $3.07 million with no commissions or finder’s fees paid. CEO Adrian Smith invested $180,000 for 1,000,000 shares in a related-party transaction conducted under Canadian exemptions, and the funds will support project advancement, property maintenance, and corporate needs, with a second tranche planned.

More about ArcPacific Resources Corp

First Atlantic Nickel Corp. is a mineral exploration company focused on discovering and developing awaruite, a rare naturally occurring nickel-iron-cobalt alloy, at its 100%-owned Pipestone XL Project in Newfoundland. The company’s shares trade on the TSX Venture Exchange under “FAN”, the OTCQB under “FANCF”, and on German exchanges including Frankfurt and Tradegate under “P21”.

Average Trading Volume: 418,528

Technical Sentiment Signal: Sell

Current Market Cap: C$26.24M

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