The Sentient Group exercised 18,276,199 common share purchase warrants of North American Nickel Inc. (TSXV:NAN,OTCBB:WSCRF) for aggregate gross proceeds of up to CAD $3,838,001.79, approximately 14.96% of the outstanding common shares of North American Nickel.
As quoted in the press release:
Taking into account the exercise of the NAN Warrants, Sentient now owns over 54,828,598 NAN Shares, representing approximately 39.04% of the 140,456,084 issued NAN Shares.
The issued and outstanding common shares of NAN is 148,464,084. Following this transaction, NAN will have an updated cash position of $7.5 million.
North American Nickel CEO Rick Mark said:
We are very pleased that our strategic partner, The Sentient Group, has chosen to exercise all of their warrants today. Their commitment to the Company and to our 100% owned Maniitsoq Ni-Cu-Co-PGM Project in Southwest Greenland is clear. They are engaged with management regularly and bring their experience and world view to bear in the planning and execution at Maniitsoq.