Fathom Nickel successfully closes upsized $11.15 million private placement
Eugene Chen, S (Rishi) Chakraborty, Breton Gaunt and Melanie Bowman assisted Fathom Nickel Inc. (“Fathom”) in an upsized, private placement financing of flow-through special warrants and hard dollar special warrants of the Company raising gross proceeds of $11,150,000 (together, the "Offering"). The Offering included $10,764,978 raised in a brokered offering (the "Brokered Offering") and $385,022 raised in a non-brokered offering to President's List subscribers. Echelon Wealth Partners Inc. and Sprott Capital Partners LP acted as co-lead agents in connection with the Brokered Offering.
The proceeds of the Offering will be used to incur Canadian Exploration Expenses that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act Canada) on the Company's properties in Saskatchewan, by December 31, 2021 and renounce such expenditures to the subscribers effective December 31, 2021.
Fathom is a privately-held resource development and exploration company that is targeting high-grade nickel sulfide discoveries for use in the rapidly growing global electric vehicle market.
Fathom is accelerating exploration on its flagship Albert Lake Project, host to the historic Rottenstone mine, which is recognized as one of the highest‐grade (Nickel, Copper, Platinum group metals) deposits of its type ever mined in Canada. Albert Lake Project is a 34,395 hectare land package in Saskatchewan located in the Trans Hudson Corridor which is home to numerous world-class mining camps.