GRAND FALLS-WINDSOR, Newfoundland and Labrador — February 18, 2026 — Leads & Copy —
First Atlantic Nickel Corp. has announced the closing of the first tranche of its non-brokered private placement, referred to as the LIFE Offering. The company plans to use the proceeds to advance projects, satisfy obligations, manage claims, and cover expenses.
The first tranche involved issuing 17,036,609 common shares at $0.18 each, raising gross proceeds of $3,066,589.62. No commissions or finder’s fees were paid. CEO Adrian Smith participated with a $180,000 investment.
The company relied on the listed issuer financing exemption for the issuance, making the shares freely tradeable under Canadian securities laws. Proceeds will go towards projects like Pipestone XL and Ophiolite-X, option payments, mineral claim maintenance, investor relations, and administrative expenses.
Smith’s participation as CEO constitutes a “related party transaction,” but the company is relying on exemptions from valuation and shareholder approval requirements because the shares trade on the TSX Venture Exchange and the investment doesn’t exceed 25% of the company’s market capitalization.
A material change report wasn’t filed 21 days before closing because the details of the related party participation weren’t finalized until closer to the closing date. The company intends to close a second tranche and will provide an update later.
The securities mentioned have not been registered under the U.S. Securities Act and may not be offered or sold in the United States or to U.S. persons without registration or an applicable exemption.
First Atlantic Nickel Corp. focuses on discovering and developing awaruite, a naturally occurring nickel-iron-cobalt alloy, at its Pipestone XL Project in Newfoundland. The project covers the Pipestone Ophiolite Complex, which contains awaruite mineralization and secondary chromium. The company’s common shares trade on the TSX Venture Exchange under the symbol “FAN”, the American OTCQB Exchange under the symbol “FANCF” and on several German exchanges, including Frankfurt and Tradegate, under the symbol “P21”.
Adrian Smith, a qualified person as defined by NI 43-101, has reviewed and approved the technical information disclosed.
Certain statements in the release are forward-looking and subject to risks and uncertainties, including the completion of future tranches of the LIFE Offering, regulatory approvals, market conditions, and the company’s ability to use proceeds as planned.
Additional risks and uncertainties are described in the company’s public disclosure documents available on SEDAR+.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Source: First Atlantic Nickel Corp.
