Vancouver, British Columbia — December 17, 2025 — Leads & Copy — First Atlantic Nickel Corp. has announced a non-brokered private placement to raise up to $2,944,780 through the sale of flow-through common shares.
The offering involves up to 4,971,219 charity flow-through common shares (CFT Shares) at $0.2432 each and up to 8,265,618 flow-through common shares (FT Shares) at $0.21 each, with no warrants included.
The company intends to use the proceeds to advance drilling and exploration at the RPM Zone, test newly identified drill targets, and expand its metallurgical recovery and processing program at the Pipestone XL Nickel Alloy Project in Newfoundland. These activities will incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures under the Income Tax Act (Canada). The company will renounce all qualifying expenditures to subscribers effective December 31, 2025.
The Pipestone XL Nickel Alloy Project spans 30 kilometers of the Pipestone Ophiolite Complex in central Newfoundland, featuring serpentinized ultramafic rocks rich in nickel and chromium. First Atlantic Nickel holds 100% control of the complex, which hosts multiple discovery zones including RPM Zone, Super Gulp, Atlantic Lake, and Chrome Pond, all containing awaruite (Ni₃Fe), a naturally occurring nickel-iron-cobalt alloy with approximately 75% nickel content.
Awaruite’s sulfur-free composition and magnetic properties allow for concentration through magnetic separation, reducing the need for energy-intensive smelting and mitigating acid mine drainage risks. The project benefits from year-round road access and proximity to hydroelectric power.
According to the Battery Metals Association of Canada, simple beneficiation processes after mining awaruite could provide a 60% nickel concentrate, suitable for battery cathode purposes, potentially making it among the lowest carbon-intensive nickel production sites globally.
The U.S. Geological Survey (USGS) noted in 2012 that developing awaruite deposits may alleviate nickel concentrate shortages, as the natural alloy is easier to concentrate than typical nickel sulfides.
First Atlantic Nickel Corp.’s shares trade on the TSX Venture Exchange under the symbol “FAN”, the OTCQB Exchange under the symbol “FANCF” and on several German exchanges, including Frankfurt and Tradegate, under the symbol “P21”.
Investors can sign up for updates at www.fanickel.com and follow First Atlantic Nickel on social media.
Contact:
First Atlantic Investor Relations
Robert Guzman
Tel: +1 844 592 6337
rob@fanickel.com
Source: First Atlantic Nickel Corp.
