Canada Nickel Upsizes C$21 Million Placement at C$1.50 Above Market for Crawford
Updated
Updated · cruxinvestor.com · Aug 17
Canada Nickel Upsizes C$21 Million Placement at C$1.50 Above Market for Crawford
1 articles · Updated · cruxinvestor.com · Aug 17
Summary
C$21 million is the new target for Canada Nickel’s non-brokered placement, expanded from C$15 million after a single family office sought to take the full round at C$1.50 per unit.
C$1.50 prices above both the stock’s C$1.36 share price and C$1.48 20-day VWAP, an unusual premium for a junior miner that typically raises equity at a discount.
Crawford’s updated FEED work underpins that pricing: NPV8% rose to $2.8 billion from $2.5 billion, IRR improved to 17.6% from 17.1%, and initial capital costs increased only 5% to about $2.0 billion.
Proceeds will fund permitting, engineering, debt repayment and working capital ahead of a targeted mid-2027 construction decision; the units include warrants exercisable at C$2.25 for 36 months.
The offering, set to close around Aug. 28 subject to TSXV approval, also tests whether investor appetite can extend to larger financing efforts expected later in 2026 for the Crawford project.