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Nickel Mines: Raises $179M via institutional entitlement offer

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Nickel Mines: Raises $179M via institutional entitlement offer

  • Nickel Mines (NIC) has successfully completed its institutional entitlement offer, raising approximately $179 million
  • Under this entitlement offer, shareholders also received one new share for every 3.6 shares held at a price of 50 cents each
  • This represented an 11.5 per cent discount to the last trading price of 56.5 cents on May 18
  • Nickel Mines will now be undertaking the retail component of the entitlement offer to raise an additional $52 million
  • Currently, it holds 60 per cent in each project but hopes to increase that to 80 per cent
  • Nickel Mines has ended the day a slight 1.63 per cent in the green with shares trading for 56 cents each

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