First Atlantic Nickel Closes CA$3.8 Million Private Placement

05:56 AM EDT, 09/29/2026 (MT Newswires) -- First Atlantic Nickel (FAN.V) has closed a no-warrant, non-brokered private placement of flow-through common shares for gross proceeds of CA$3.8 million, the company said Monday. First Atlantic issued 2.3 million flow-through common shares at a price of CA$0.75 per share and 2.6 million charity flow-through common shares at a price of CA$0.785 per share. A strategic investor also exercised its participation right under an investor rights agreement, with limited participation so that its beneficial ownership will not exceed 9.99%. The company will use the proceeds to fund follow-up and expansion drilling at the Alloy Max North and Alloy Max South Zones, First Atlantic's new awaruite discovery, as well as definition drilling and metallurgical test work at the RPM, Alloy Max South and Alloy Max North Zones. With the latest closing, the company has raised about CA$9.9 million from financings completed in September.