Fathom Nickel plans $3 million private placement with Crescat Capital

Fathom Nickel Inc. (CSE: FNI) announced plans for a private placement financing to raise up to C$3 million through a combination of charity flow-through units priced at C$0.048 each and hard dollar units at C$0.031 each.

Crescat Capital LLC has agreed to invest up to 20% of the offering. Upon completion, Crescat is expected to own approximately 18% of Fathom's common shares on a non-diluted basis, assuming the offering is completed in full.

Each charity flow-through unit consists of one flow-through common share and one warrant exercisable at C$0.05 for 36 months. Each hard dollar unit includes one common share and one warrant.

The company plans to use proceeds from charity flow-through units for Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures before December 31, 2027. Hard dollar unit proceeds will fund exploration and development of mineral projects, working capital and general corporate purposes.

Fathom intends to conduct a 3,000-to-4,000-meter drilling program at its Gochager Lake property starting mid to late February 2026. The program will test targets along an 8-kilometer exploration zone where the company has identified soil geochemical anomalies.

The hard dollar units are expected to close around February 11, 2026, while charity flow-through units are expected to close around February 18, 2026. The offering is subject to regulatory approvals including from the Canadian Securities Exchange.

Fathom operates three exploration projects in Saskatchewan's Trans Hudson Corridor, including the Albert Lake Project hosting the historic Rottenstone Mine, the Gochager Lake Project, and the Friesen Lake Project.

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