First Atlantic Nickel Corp. announced a a non-brokered private placement led by a strategic investor to issue 9,928,571 flow-through shares at an issue price of CAD 0.21 per FT Share, for aggregate gross proceeds of CAD 2,084,999.91 led by strategic investor on June 20, 2024. Each FT Share will consist of one common share of the Company issued as a flow-through share.

Post-closing, a strategic investor holds a 9.98% equity stake in company. No warrants, finders fees, or commissions were payable in connection with the Offering. All securities issued pursuant to the Offering are subject to an Exchange hold period and a four month plus one day hold period pursuant to applicable securities laws of Canada, which will expire on October 21, 2024.

The transaction is subject to the final approval of the TSX Venture Exchange.