North American Nickel Inc. (TSX-V: NAN; OTCBB: WSCRF), a portfolio company of Sentient Group Limited, has filed a preliminary short form prospectus in connection with a proposed marketed offering of units for gross proceeds of up to CDN $15,000,000.
Sentient Group Limited, through Sentient Executive GP IV, Limited, controls 66.8% of the outstanding North American Nickel shares on a partially diluted basis.
The offering will be conducted on a best-efforts basis through Paradigm Capital Inc. as lead agent. Bennett Jones LLP and Baker & McKenzie LLP are acting as legal counsel to North American Nickel and the agent respectively.
North American Nickel intends to use the net proceeds for the commencement of a work program and additional exploration and drilling activities to be completed at its Maniitsoq project in Greenland and for general corporate and working capital purposes.
North American Nickel is a mineral exploration company with 100% owned properties in Maniitsoq, Greenland and Sudbury, Ontario.
photo credit: North American Nickel