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The latest announcement is out from ArcPacific Resources Corp ( (TSE:FAN) ).
First Atlantic Nickel Corp. has closed the second and final tranche of its non‑brokered, no‑warrant LIFE private placement, issuing 4,630,058 shares at $0.18 for $833,410.44 and bringing total gross proceeds from the offering to $3.9 million. A strategic investor exercised top‑up rights to maintain a 9.9% stake, signalling continued institutional support as the company advances its key nickel projects.
The funds will be used over the next year to advance the Pipestone XL and Ophiolite‑X projects, meet option payment obligations, and maintain mineral claims, as well as for investor relations, general and administrative costs, and working capital. The second tranche remains subject to final TSX Venture Exchange approval, and the newly issued shares under the listed issuer financing exemption are freely tradeable under Canadian securities laws.
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 assets span the 30‑kilometre Pipestone Ophiolite Complex, where multiple zones host awaruite and secondary chromium, with the alloy’s magnetic properties offering potential for lower‑impact processing via magnetic separation.
Average Trading Volume: 447,141
Technical Sentiment Signal: Buy
Current Market Cap: C$27.91M
For an in-depth examination of FAN stock, go to TipRanks’ Overview page.