Fathom Nickel (CSE:FNI) has raised C$3.23 million ($3.34 million) in the first tranche of its private placement to fund exploration and development costs at its portfolio of assets in Saskatchewan, Canada.
The company issued 52.08 million charity flow-through units at C$0.048, along with 23.42 million non-flow through units at C$0.031 in tranche one in the upsized private placement.
Tranche two is expected to raise an additional C$774,000 through the issuance of units, closing on or around 24 February 2026.
Non-flow through units comprise one share and one transferable purchase warrant, that is exercisable into one share over a three-year period at C$0.05.
Charity flow-through units comprise one flow-through share and one transferable purchase warrant under the same conditions.
Funds raised will be used across all of Fathom’s mineral projects, as well as for working capital and general corporate purposes.
Fathom Nickel is a mineral explorer focused on targeting magmatic nickel sulphide discoveries to secure the supply of North American critical minerals.
Write to Maddison Elliott at Mining.com.au
Images: Fathom Nickel
