Quebec Nickel Corp. (CSE: QNI) (FSE: 7lB0) (OTCQB: QNICF) closed a non-brokered private placement raising gross proceeds of $777,250, according to a company statement.

The Vancouver-based mineral exploration company issued 3,109,000 units at $0.25 per unit. Each unit includes one common share and one warrant exercisable at $0.40 per share for two years from the issuance date.

The company issued units under prospectus exemptions including family, friends and business associates, accredited investor, and equivalent exemptions under Canadian securities laws. Quebec Nickel paid $23,900 in finder's fees connected to the offering.

The company plans to use net proceeds for general working capital, exploration activities, and evaluating strategic opportunities. All securities carry a statutory hold period of four months and one day from issuance under Canadian securities laws.

The offering remains subject to final acceptance by the Canadian Securities Exchange. Quebec Nickel focuses on acquiring, exploring and developing critical metals projects including gold, nickel, copper, cobalt and platinum group elements in North America.