Date: February 12, 2018
Fort St. James Nickel Corp. announces financing
Vancouver, British Columbia: Fort St. James Nickel Corp. (TSX-V: FTJ.H) (“FTJ” or the “Company”) is pleased to announce that it intends to carry out a non-brokered private placement (the “Private Placement”) of up to 1,000,000 units (the “Units”) at a price of $0.35 per Unit for aggregate gross proceeds of up to $350,000.
Each Unit will consist of one common share of the Company (a “Share”) and one transferrable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share (a “Warrant Share”) at a price of $0.50 per Warrant Share for a period of twelve (12) months from the date of issuance. The term of the warrants may be accelerated in the event that the issuer’s shares trade at or above a price of $1.00 per share for a period of 10 consecutive days. In such case of accelerated warrants, the issuer may give notice, in writing or by way of news release, to the subscribers that the warrants will expire 30 days from the date of providing such notice.
The proceeds from the Private Placement will be used for general working capital purposes and exploration work on the Company’s Porcupine Preciouses and Base Metal, REE property located in New Brunswick.
The Company may also pay finders’ fees in connection with the Private Placement in accordance with the policies of the TSX Venture Exchange. All of the securities to be issued under the Private Placement will be subject to a four-month resale restriction. The Private Placement remains subject to the approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD
Fort St James Nickel Corp. 604-488-3900
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.