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Client Work

First Nickel completes US$28.7 million equity offering and US$3.2 million debt for equity exchange

Fasken
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Client

First Nickel

On November 12, 2010, First Nickel Inc. (TSX:FNI) announced that it had completed its offering of 239,582,948 units of the company for total gross proceeds of $28,749,953 (including units issued on exercise of the agents' option to increase the size of the offering, an increase of approximately 15%). Paradigm Capital Inc., as lead, and Raymond James Ltd. acted as agents for the offering. In addition, Resource Capital Fund IV L.P. exchanged US$3,171,059 of its US$5,000,000 outstanding bridge loan for 28,132,580 units. First Nickel was advised in these transactions by Fasken Martineau with a team that included Michael Bourassa, Nancy Eastman, Brad Freelan and Andrew Teehan (corporate/securities), Neil Smiley (real estate) and Mitchell Thaw (tax).

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