Canada Nickel Company Inc. (TSXV: CNC) announced a non-brokered private placement of up to 2.4 million flow-through shares at C$2.07 per share, targeting aggregate proceeds of C$4.97 million.

The flow-through shares will be offered across all Canadian provinces under applicable securities law exemptions. All securities will be subject to a four-month and one-day hold period from the closing date.

The company plans to use proceeds for eligible resource exploration expenses that qualify as Canadian exploration expenses and flow-through critical mineral mining expenditures under Canadian tax law. Canada Nickel must incur qualifying expenditures equal to the gross proceeds by December 31, 2027, and renounce them to initial purchasers by December 31, 2026.

"With Crawford in the final stage towards a permitting decision expected by early summer and continued progress on government funding, this flowthrough financing will allow us to continue to advance our Timmins Nickel District where we have now published eight separate resources with a ninth coming later this quarter," said Mark Selby, CEO of Canada Nickel.

The offering is scheduled to close around June 10, 2026, subject to conditions including TSX Venture Exchange approval and listing of the flow-through shares.

Canada Nickel operates the Crawford Nickel-Cobalt Sulphide Project in the Timmins-Cochrane nickel district and is developing nickel-sulphide projects for electric vehicle and stainless steel markets.