First Atlantic Announces a No Warrant Private Placement Financing to Advance the Pipestone XL Project

Core Viewpoint - First Atlantic Nickel Corp. is conducting a non-brokered private placement to raise up to $2,944,780 through the sale of flow-through common shares to fund its Pipestone XL Nickel Alloy Project in Newfoundland, which focuses on nickel exploration and development [1][2][3]. Group 1: Offering Details - The Offering consists of up to 4,971,219 charity flow-through common shares priced at $0.2432 each and up to 8,265,618 flow-through common shares priced at $0.21 each [1]. - Proceeds from the Offering will be allocated to eligible Canadian exploration expenses that qualify as flow-through mining expenditures, with all qualifying expenditures to be renounced in favor of subscribers by December 31, 2025 [2][20]. Group 2: Project Overview - The Pipestone XL Nickel Alloy Project spans a 30-kilometer area in the Pipestone Ophiolite Complex, which contains multiple discovery zones including RPM Zone, Super Gulp, Atlantic Lake, and Chrome Pond, all rich in awaruite, a nickel-iron-cobalt alloy [4][17]. - Awaruite has a nickel content of approximately 75% and offers advantages over conventional nickel deposits, such as simpler processing methods that reduce environmental impacts and eliminate the need for smelting [6][10][17]. Group 3: Strategic Importance - The project is positioned to contribute to a secure North American nickel supply chain, essential for industries such as stainless steel, electric vehicles, aerospace, and defense [6][18]. - The U.S. Geological Survey has recognized the strategic importance of awaruite deposits, noting their potential to alleviate nickel concentrate shortages due to their easier concentration compared to typical nickel sulfides [9][18].