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| Home : First Nickel Secures Commitments for C$30 Million Senior Secured Project Loan Facility |
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Mar 02
2011 |
First Nickel Secures Commitments for C$30 Million Senior Secured Project Loan Facility |
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TORONTO, ONTARIO--(Marketwire - March 1, 2011) - First Nickel Inc. ("First Nickel" or the "Company") (TSX:FNI) is pleased to announce that it has received and accepted commitments from Société Générale (Administrative and Technical Agent) and Commonwealth Bank of Australia (Documentation Agent) (collectively, the "Lenders") for a senior debt facility totaling C$30 million. The proceeds from this facility when closed will be used to partially fund the development and working capital costs at the Company's Depth Project at the Lockerby Mine in Sudbury. In connection with receiving the commitments, the Company issued 6,155,986 common share purchase warrants to the Lenders as part of the arrangement fee. The warrants are exercisable at $0.12 per share and expire March 31, 2015. |
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| Source:http://www.marketwire.com/mw/release.do?id=1404098&sourceType=3 |
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