On June 21, 2024, Premium Nickel Resources Ltd. closed the transaction. The company issued 16,021,795 units at an issue price of CAD 0.78 for the gross proceeds of CAD 12,497,000.1 in second and final tranche. Each Unit is comprised of one common share and one common share purchase warrant.

Each Warrant entitles the holder thereof to acquire one Common Share for a period expiring 60 months following its respective date of issuance at a price of CAD 1.10 per Common Share. All securities issued under the Offering are subject to a hold period of four months plus one day from the date of issuance in accordance with applicable Canadian securities laws and the policies of the Exchange. The Offering remains subject to final acceptance by the Exchange.