All monetary amounts are expressed in Canadian Dollars, unless otherwise indicated.
TORONTO, Feb. 23, 2024 (GLOBE NEWSWIRE) — NiCAN Limited. (TSX-V:NICN) (“NiCAN” or the “Company”) is pleased to announce the closing of its previously announced (February 2, 2024) “bought deal” private placement (the “Offering”) underwritten by Stifel Nicolaus Canada Inc. (“Stifel”) as lead underwriter and sole bookrunner. Stifel exercised its over-allotment option in whole under the Offering, and accordingly, the Offering consisted of the sale of (i) 3,600,000 common shares (the “Common Shares”) of the Company at a price of $0.10 per Common Share; and (ii) 8,400,000 common shares that qualify as “flow through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the “Flow Through Shares”) at a price of $0.175 per Flow Through Share for aggregate gross proceeds of $1,830,000.
The Company will…
