First Atlantic Nickel Announces Upsize of LIFE Offering

Core Viewpoint - First Atlantic Nickel Corp. has announced an increase in its non-brokered private placement due to strong investor demand, reflecting confidence in the company's growth strategy and long-term prospects [1][2]. Group 1: Private Placement Details - The private placement will consist of up to 21,666,667 common shares at a price of $0.18 per share, aiming for aggregate gross proceeds of up to $3,900,000 [2]. - The strategic investor's participation will allow them to maintain an ownership interest of up to 9.99% [2]. - The first tranche of the offering is expected to close on or about February 18, 2026, pending necessary regulatory approvals [5]. Group 2: Regulatory Compliance and Offering Document - The shares will be offered to purchasers in all provinces of Canada except Quebec, under the Listed Issuer Financing Exemption [3]. - An amended and restated offering document related to the LIFE Offering is available on the company's profile and website [4]. Group 3: Use of Proceeds - The gross proceeds from the offering will be used to advance the company's projects, including Pipestone XL and Ophiolite-X, satisfy option payment obligations, manage mineral claims, and cover general administrative expenses [6]. Group 4: Acquisition of Mineral Claims - The company has closed asset purchase agreements to acquire mineral claims in the Blow Me Down and Lewis Hills massifs, branding this strategic land position as the "Ophiolite-X" project [8]. - The acquisition includes 500 mineral claims and the issuance of 4,710,000 common shares as consideration, with specific net smelter returns royalties attached to the licenses [8]. Group 5: Company Overview - First Atlantic Nickel Corp. focuses on the discovery and development of awaruite, a rare nickel-iron-cobalt alloy, at its Pipestone XL Project in Newfoundland [11]. - The project spans the 30-kilometer Pipestone Ophiolite Complex, containing multiple zones of awaruite mineralization [11].