Québec Nickel (CSE:QNI) intends to complete a non-brokered private placement to raise C$1 million ($1.03 million) to fund exploration and development activities across its projects.
As part of the placement, units will be issued at C$0.25 per unit. Each unit will consist of one common share and one common share purchase warrant.
The warrants will entitle the holder to acquire one common share exercisable at C$0.40 within a two-year period.
The offering is subject to customary conditions including securing approval of the Canadian Securities Exchange and other regulatory approvals.
Earlier this week, Québec Nickel announced its intention to change its name to Aurbis Resources, following signing a definitive purchase and sale agreement with Orogen Royalties to acquire the Ecru Project in Nevada.
The new name and ticker symbol ‘AURR’ signifies the focus on gold exploration. Québec Nickel will provide further updates on the name change once it receives regulatory approval for the proposed name change.
The Ecru Project consists of 112 mining claims and is situated north of the Pipeline-Cortez-Goldrush-Robertson deposit cluster, one of Nevada’s most prolific gold districts.
Québec Nickel is a mineral explorer focused on acquiring, exploring and developing critical metals projects in North America.
Write to Aaliyah Rogan at Mining.com.au
Images: Québec Nickel
